Concurrent Resolution On The Budget For Fiscal Year 2008

Floor Speech

CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2008 -- (House of Representatives - March 28, 2007)

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Mr. SMITH of Nebraska. Mr. Chairman, I rise with great concern about the proposed budget and how sustainable it is or it is not.

I would express it concerns me a great deal when I see the fact that 115
million taxpayers would see their taxes increase on average by almost $1,800 in 2011. I think this discussion can be healthy, and I appreciate the fact that the majority does want to keep some of the tax relief, but it needs a budget that comports with that intent.

It concerns me a great deal when I look at the long term when we see absolutely no change in direction from prior spending. We hear that there has been borrowing that has taken place. It has. There is no denying that. But now it seem that the option is to take more tax dollars from the taxpayers, and that is what I think will be damaging to the economy as a whole and certainly the economy of households all across America. When I look at what I see as very damaging to seniors with the dividends tax relief plan that would be cut off, that concerns me a great deal, and when I look at the impact to my State of Nebraska in the increases in taxes, I just don't see where this new budget sets a new direction.

We were told in the Budget Committee several times that we need fundamental reforms in entitlements, and yet this budget presents absolutely no reforms in entitlements.

Mr. Chairman, those are my concerns and they are concerns about the future.

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