Fiscal Responsibility Without Raising Taxes

Floor Speech

FISCAL RESPONSIBILITY WITHOUT RAISING TAXES -- (House of Representatives - March 28, 2007)

Mr. PASCRELL. Madam Speaker, rather than pulling out the tired old talking points of ``tax and spend,'' I wish my colleagues and my good friends on the other side of the aisle would actually read the Democratic budget resolution. Really, it makes for pretty good reading.

If they did, they would see that nowhere in the budget do we call for any increase in taxes; nowhere.

In fact, if the Republicans read our budget, they would see that it actually directs the Ways and Means Committee, of which I am a member, to come up with immediate relief for middle-income families who would otherwise be subject to the alternative minimum tax. Unless we reform that tax, 19 million families will have to pay higher taxes in 2007.

The President played games with this tax, coming up with only a 1-year fix.
You hear it in your own districts. Democrats are committed to coming up with a permanent solution.

Our budget allows the Ways and Means Committee to extend other middle-income tax relief, including the child tax credit and marriage penalty relief, while remaining true to the PAYGO principle.

Madam Speaker, this is a good budget that provides tax relief to middle-income families, and at the same time, finds balance within the next 5 years. I suggest we take a look at it.

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