Chris Van Hollen: “The American people did not bargain for a plan in the first 24 hours of the new Congress that would blow a hole in the…”

“The American people did not bargain for a plan in the first 24 hours of the new Congress that would blow a hole in the deficit and expand the debt. The chairman of the Rules Committee mentioned the recent bipartisan tax agreement. We also recently had a bipartisan commission on the deficit and debt reduction. It looked at both sides of the equation-- spending and the fact that we have created lots of tax loopholes that have lost revenue to special interests. What this plan does, what the rule does, is say that that doesn't matter, that it doesn't count against the deficit. In fact, the existing rules under the House say that you cannot use the budget reconciliation process to add to the deficit. Your rule specifically eliminates that restriction. Your rule says go ahead and use the budget reconciliation process to add to the deficit and debt. You strike it. You give a green light. This rule also contains, on page 28, a little noticed provision that opens the door to politically motivated, Enron-style accounting as a means to do an end run around the pay-as-you-go law signed by President Obama.”