The line later hurt Bush politically. Although he did oppose the creation of new taxes as president, the Democratic-controlled Congress proposed increases of existing taxes as a way to reduce the national budget deficit. Bush negotiated with Congress for a budget that met his pledge, but was unable to make a deal with a Senate and House that was controlled by the opposing Democrats. Bush agreed to a compromise, which increased several existing taxes as part of a 1990 budget agreement.
https://en.wikipedia.org/wiki/Read_my_lips:_no_new_taxes#:~:text=%22Read%20my%20lips%3A%20no%20new,the%20nomination%20on%20August%2018.&text=Bush%20agreed%20to%20a%20compromise,of%20a%201990%20budget%20agreement.