TANNER SPEAKS ON 'PAYGO' IN COMMITTEE HEARING

U.S. Rep. John Tanner today made the following comments during House Ways and Means consideration of the Temporary Tax Relief Act of 2007. The bill includes a revenue-neutral, short-term fix of the Alternative Minimum Tax.

Tanner stressed the importance of adhering to the House’s “pay as you go” (PAYGO) rules to avoid the need to borrow additional money, noting that the Administration and previous Congresses borrowed $1.6 trillion from 2001-2007, on which interest is due.

“The mere fact that we are sitting here arguing about whether or not we ought to make some difficult choices and begin to try to stop what will be the ruination of our economy if we continue down this road is, to me, the most financially irresponsible activity this committee or this Congress can engage in. The laws of arithmetic don’t stop at the door of the United States Capitol or the White House….

“Every politician that I know of wants to promise to spend the money and do the things that people want to see done and not ask them to pay for it. That’s the easy way out. And if our forefathers had done that, I guarantee you we would not have the standard of living in this country that we have enjoyed.”

Tanner represents Tennessee’s 8^th Congressional district. A founding member of the fiscally responsible Blue Dog Democrats, he serves on the Ways and Means Committee, on the Committee on Foreign Affairs and as chairman of the U.S. House delegation to the NATO Parliamentary Assembly.

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Contact: Randy Ford, 202.225.4714