[Congressional Record (Bound Edition), Volume 153 (2007), Part 6]
[Senate]
[Page 7756]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           BUDGET RESOLUTION

  Mr. CHAMBLISS. Mr. President, I voted against the budget resolution 
for the 2008 fiscal year because it contained record-breaking tax 
increases on hard-working American families in a time when we should be 
putting more money back into the pockets of taxpayers, not taking it 
out. This year's budget resolution is historical because it proposes 
the largest tax increase ever--$916 billion in tax increases on the 
backs of the American people. This is almost four times the amount of 
the second largest tax hike in history, $240 billion proposed in 1993. 
By letting progrowth tax policies expire, this resolution reaches deep 
into the pockets of hard-working families and seeks to reduce the take-
home pay of a family of four earning $50,000 by as much as 6 percent.
  Additionally, this budget ignores the concerns of future generations. 
Proposed tax hikes would slow the economy, and stifle investment and 
job creation. Since 2003, over 7 million new jobs have been created. 
The U.S. economy is experiencing 5 uninterrupted years of growth, and 
since the tax cuts of 2003, the rate of economic growth has more than 
doubled. Tax increases move us in the wrong direction and that is why I 
am opposing this budget resolution--because it is wrong for the 
economy, wrong for hard-working families, and wrong for America.
  Despite the inclusion of funding for several essential programs in 
this budget resolution, it is imperative that we realize the effect of 
this proposal as a whole. When we examine closely the entire package, 
it is clear that the tax increases on Americans included in this budget 
will serve to stunt our continued economic growth. Therefore, I opposed 
this budget resolution. We simply cannot afford to appease short-term 
priorities at the expense of long-term stability and prosperity. The 
success of our economy depends on and demands from us fair tax policies 
which enable hard-working Americans to prosper, leading us as a country 
to fiscal stability.

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