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We Need Spending Restraint, Not Tax Hikes

Floor Speech

Date: March 8, 2007
Location: Washington, DC
Issues: Government Budget and Spending


WE NEED SPENDING RESTRAINT, NOT TAX HIKES -- (House of Representatives - March 08, 2007)

Mr. CONAWAY. Mr. Speaker, we are anxiously awaiting the arrival of the 2008 budget that the Democrats are putting together. In all likelihood, it will require a spending of $2.9 trillion. Let me put that money in perspective. That is $90,000 plus every second of the fiscal year. It is a lot of money.

Tax rates will be going up under current law unless this Congress acts to not do that. There is a myth being purported by the other side that we can somehow tax the rich and balance the budget. That is a myth. The top 10 percent of taxpayers already pay two-thirds of the taxes that are being paid in this country.

Spending restraint is far more impactful on balancing the budget than raising taxes. We have a spending problem, not a tax-raising problem. I urge my colleagues to work on spending restraint as the true measure of how we fix this deficit.


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