Virginia Foxx: “Mr. Speaker, just 2 days ago, I came before this body in opposition to a rule providing for the consideration of H.R.…”

“Mr. Speaker, just 2 days ago, I came before this body in opposition to a rule providing for the consideration of H.R. 5297, a bill affectionately known as ``TARP III.'' At that time, I expressed concern over the cost of this bill and over the ruling Democrats' lack of ability to run this House in an orderly fashion. My presence here today is testament to these concerns. If the process for considering this legislation and accompanying amendments had been more thoroughly vetted, we could have avoided meeting today altogether, but apparently, in their zeal to add to the budget-busting TARP III legislation, some flawed amendments were found to violate the Democrats' cherished PAYGO rules. Yesterday, it was discovered that two amendments--Miller No. 46 and Schrader No. 14--were not PAYGO-compliant. H.R. 5297 is being paid for with the savings in H.R. 5486, but due to the timetables used for those savings, the amendments failed to meet the first 5-year window of PAYGO. The rule did not contain any PAYGO waivers. Therefore, the amendments now need to either be redrafted or they need to have the PAYGO rules waived.”