[Congressional Record (Bound Edition), Volume 153 (2007), Part 4]
[House]
[Page 5786]
[From the U.S. Government Publishing Office, www.gpo.gov]




               WE NEED SPENDING RESTRAINT, NOT TAX HIKES

  (Mr. CONAWAY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  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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