I thank the gentleman for yielding. I rise today in support of the Expedited Legislative Line-Item Veto and Rescissions Act, and I thank Chairman Ryan and Ranking Member Van Hollen for their work on this important bipartisan legislation. At a time when we are borrowing 40 cents on every dollar we spend, there's no more important time for Congress to have an honest conversation about balancing our Federal budget and cutting wasteful government spending. It is clear that real reform is needed in our flawed Federal budget process. The real reforms that we have considered over the last 2 weeks seek to improve this flawed process by getting at the root of the Washington accounting gimmicks that have plagued Congress for years. These reforms will provide more Federal Government transparency and accountability and put an end to business as usual when it comes to out-of-control spending in Washington. That is why I support this line- item veto legislation. This bill would give the President the ability to veto wasteful spending provisions as a part of the appropriations process. This bill and the remaining budget-reform bills will give the American people an honest picture of how their hard-earned tax dollars are being spent and will move us one step closer to addressing the debt crisis that threatens the very future of this great Nation. Mr. Chairman, we know that both sides of the aisle have been a part of the problem when it comes to Washington's reckless spending habit.…
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I'm prepared to close and would like to insist on my right to do so. I reserve the balance of my time.
I would just say a couple of things in closing. First, what this bill is not is a bill that does anything to amend or change the mandates of the SEC. We know what those mandates are. They are to ensure fair markets, efficient markets. They…





