Tax Increase Prevention Act of 2007

TAX INCREASE PREVENTION ACT OF 2007 -- (House of Representatives - December 19, 2007)

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Mr. KIND. Madam Speaker, this is truly a sad day for the institution of Congress in this administration when we have a minority number of Members in both the House and the Senate that are more interested in protecting a handful of hedge fund managers' ability to move millions of dollars offshore without paying their fair share of taxes and in order to protect the financial security of our children and grandchildren by paying for this AMT relief bill.

Make no mistake, everyone is in agreement that we want to stop the AMT from affecting 20-plus million Americans next year. The difference is our party wants to pay for it; they don't.

We have had the fastest and largest accumulation of national debt under Republican rule in the last 6 years, and they're saying that's not enough.

We are almost completely dependent on borrowing money from China to finance our deficit, and they're saying that's not enough.

The fastest growing area of spending in the Federal budget is interest payments on the national debt, and they're saying that's not enough. Let's pile on some more and let's leave this mortgage, this legacy of debt for our children to handle. I think that is a disgrace.

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