Commission on Unfair Tax Breaks and Subsidies (or "CUTS") Act of 2007

Commission on Unfair Tax Breaks and Subsidies, or CUTS Act of 2007 - Establishes the Commission on Unfair Tax Breaks and Subsidies to: (1) examine federal programs and tax laws and identify which ones provide inequitable federal subsidies; (2) review such subsidies; and (3) report to Congress.

States that this Act is not intended to result in the creation of new programs or taxes.

Requires the Commission to limit: (1) its activities to reviewing programs or tax laws as of the enactment of this Act with the goal of ensuring fairness and equity in its operation and application; and (2) its recommendations to the termination or reduction of payments, benefits, services, or tax advantages, rather than the termination of federal agencies or departments.