Budget Conference Report

Floor Speech

BUDGET CONFERENCE REPORT -- (Senate - May 21, 2008)

Mr. McCONNELL. Mr. President, let me say to my good friend, the majority leader, we would be happy to work out a process by which we could have the debate on the budget today. We would even be prepared to have the vote on the budget today, but I understand that is problematic.

Mr. REID. I think we could probably do that.

Mr. McCONNELL. Well, that is something we could probably work toward, yes.

Mr. President, with regard to the budget, we have our differences in the Senate, but there are a few ideas that have wide bipartisan agreement. One is we need to rein in Federal spending, and another is we need to do our part to ensure that middle-class families keep more of the money they earn.

But the Democrats' latest budget shows we have a very different view of what these ideas mean. Our friends on the other side said they wanted to raise taxes on the rich and keep taxes low for working families. But this budget would provide for the average family a tax hike of $2,300 on people earning as little as $31,000 a year and couples making $63,000 a year. For a little perspective, first year schoolteachers in my hometown earn $35,982, and I do not think they consider themselves rich.

With rising gas prices and economic concerns, middle-class families are tightening their belts. Yet this budget would take more money out of the paychecks of these families to fill the Government's coffers. At a time when all Americans are watching their spending, shouldn't Washington be doing the same?

Not according to this budget, which does nothing to address entitlement spending and sets a new record--a new record--for nonemergency spending, topping the $1 trillion mark for the first time in American history. That is not a record I think we should be welcoming.

So I am a little confused as to why this budget is at odds with the Democrats' promise of keeping taxes low for working families and putting a stop to wasteful Washington spending.

It seems to me, if Congress was serious about letting Americans keep more of the money they earn, we would make tax relief permanent. If we were serious about reining in spending, we would pass a budget that calls for responsible growth. Instead, we are on the verge of passing a budget that goes in the opposite direction, contains the largest tax hike in U.S. history, and sets a new record for spending.

American families cannot afford this budget, American job creators cannot afford this budget, and our economy cannot afford this budget. I urge all of our colleagues to protect the American family's budget by voting against this budget when we have an opportunity to do that.

I yield the floor.

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