What significant promise did George H.W. Bush break regarding taxes?

The choice indicating that George H.W. Bush raised taxes while campaigning against it is correct because it refers to a pivotal moment in his presidency that had significant political implications. During his 1988 presidential campaign, Bush famously stated, "Read my lips: no new taxes," which resonated with voters who were concerned about tax increases. However, in 1990, facing a growing budget deficit and pressure from Congress, he agreed to a budget deal that included the increase of certain taxes. This decision was met with considerable backlash from conservatives and contributed to his loss in the 1992 election, as many felt he had betrayed his campaign promise. Thus, it highlights the tension between campaign rhetoric and the realities of governance, illustrating how a broken promise can impact political careers.