Budget & Fiscal Responsibility

Congressman Hoyer is fighting to address our nation's deep deficits and debt, and is actively engaged in the effort to put our country on a fiscally sustainable path. He believes that it is immoral to expect future generations to pay for the excess spending of this and previous generations. He introduced and successfully helped enact into law the pay-as-you-go principle - or "PAYGO" - a proven tool for fighting debt that that helped create budget surpluses in the 1990s. Like families across the country, Congress must make the tough choices to determine our real priorities and not spend beyond our means.  PAYGO also forces Congress to look harder for wasteful spending that can be cut.

Congressman Hoyer has called on Congress to enact a deficit reduction plan that recognizes the need to create jobs in the short term while bringing down our deficit over the long term. He supports a solution that puts all options on the table, including spending cuts, increasing revenues, cutting waste in defense spending, and strengthening entitlements while protecting seniors and the most vulnerable and preserving the Medicare guarantee. He has urged both parties to compromise on a balanced approach that asks all Americans to contribute their fair share.

Congressman Hoyer is committed to reducing the deficit, and has urged both parties to work together to put our nation on a fiscally sustainable path while making the investments we need to have a strong economy.

EDITORIAL: Time for tough economic choices

THE LONG-TERM unemployment rate is at a record level. So is the federal deficit. Both of these are serious concerns. But it is possible -- in theory, anyway -- for Congress to be both compassionate and prudent. In the short term, lawmakers should resolve the logjam that has allowed federal benefits to lapse for more than 900,000 unemployed. In the longer term, they should heed the example ofHouse Majority Leader Steny H. Hoyer (D-Md.), who gave a brave speech this week not only setting out the fiscal challenge but offering specific, credible suggestions for savings.

Congressman Hoyer Delivers Major Speech on Deficit Reduction

Congressman Leader Steny H. Hoyer (MD) delivered remarks this morning on the imperative for solving the nations fiscal crisis, the need for bipartisan cooperation on this issue, and how to balance economic recovery with long-term deficit reduction. This is the second major speech Hoyer has delivered on this topic, speaking in March at the Brookings Institution on restoring fiscal responsibility.

Hoyer, House Vote to Pass Small Business Lending Bill to Free up Capital, Create Jobs

Today, Rep. Hoyer joined a majority in the U.S. House in voting to pass two small business measures that together will - legislation that will leverage $300 billion in much-needed lending for small businesses and offer tax incentives to help small businesses grow, hire, and fuel our economy create hundreds of thousands of jobs.

Congressman Hoyer to Deliver Major Speech on Deficit Reduction

Congressman Steny H. Hoyer (D-MD) will deliver remarks on the imperative for solving the nations fiscal crisis, the need for bipartisan cooperation on this issue, and how to balance economic recovery with long-term deficit reduction, at a Third Way event in the Columbus Room at Union Station on Tuesday, June 22nd at 9:00 a.m.

Hoyer Statement on CAGW Earmark Report

WASHINGTON, DC Congressman Steny H. Hoyer (MD) released the following statement today after Citizens Against Government Waste (CAGW) released a report on earmark reforms under the Democratic Congress:

Fiscal Wake-Up Tour with Students at the University of Maryland

College Park, MD - In order to highlight the nation's fiscal challenges and bring awareness to the impact of policies on the federal budget, as well as the economy and future growth and stability of America, Congressman Steny H. Hoyer (D-Md), along with former Comptroller General David M. Walker - now President of the Peter G. Peterson Foundation - and a panel of budget experts held a Fiscal Wake-Up Tour event today with students at the University of Maryland.

Returning Our Country to Fiscal Health and Strength

Never in my decades in Congress have I seen a public so outraged by deficits and debt. But this moment of historic awareness is also a moment of historic opportunity. We can waste it in opportunism, in slogans and symbolic solutionsor we can rededicate ourselves to the painful, unglamorous, and indispensible work of fiscal discipline. We can choose to hang together, in the words of Ben Franklinor we will hang separately.

Hoyer Speaks on Fiscal Responsibility at Brookings Institution

It is enough to say that by the time my grandchildren and great- granddaughter's are in college, our debt will exceed our gdp we will owe more money than the value of our entire country. It is enough to realize that by then our government will exist to do only two things -- pay for entitlements and pay interest on our debts...

Hoyer Applauds President Obama for Signing PAYGO Into Law

WASHINGTON, DC - Congressman Steny H. Hoyer (MD) released the following statement after President Obama signed statutory "pay-as-you-go," or PAYGO, into law.________________________________________________________________________