Kentucky Representative John Yarmuth, Chair of the House Budget Committee, released a statement following reports of House Republicans' proposed plan to eliminate the PAYGO rule, which requires spending increases or revenue cuts to be offset, and instead institute CutGo to allow deficit-financed tax cuts and prohibit increased spending -- even if it is deficit neutral.
"House Republicans made this same rule change when they took power in the 112th Congress and it's an even worse idea now than it was then. CutGo is the antithesis of fiscal responsibility," said Chairman Yarmuth. "Congressional Democrats have enacted historic pro-growth, pro-working families legislation and achieved record deficit reduction, cementing Democrats as the party of fiscal responsibility. If Republicans adopt this proposed rule change, it will not only take a toll on our nation's budget and productivity, but it will take a toll on Americans' lives and livelihoods."