"As one of our colleagues recently put it, this Republican pledge of no new taxes is pure Bushlips," Senate Finance Committee Chairman Lloyd Bentsen (Tex.), said in the toughest language he has used to attack the administration's fiscal policy. "It's Bushlips when the president says 'No new taxes' and sends a budget requiring the Finance Committee to raise $20 billion in new revenues: $15 billion in taxes and $5 billion in user fees."
Source: wiktionary