Economy & Small Business
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) made the following remarks on the House floor in support of H.R. 5872, the Sequestration Transparency Act of 2012. The legislation would require the president to submit to Congress a detailed report on how his administration plans to implement the sequestration spending cuts set to begin in 2013.
WASHINGTON, D.C. - U.S. Congressman Tom Cole (OK-4) released the following statement after the bipartisan passage of H.R. 5872, the Sequestration Transparency Act of 2012. The legislation would require the president to submit to Congress a detailed report on how his administration plans to implement the sequestration spending cuts set to begin in 2013.
"There is strong bipartisan agreement that the sequester is a terrible policy that should not be allowed to happen. These automatic, arbitrary cuts could cost Oklahoma's economy up to 16,000 jobs and $630 million.
WASHINGTON, D.C. - U.S. Congressman Tom Cole (OK-4) released the following statement after President Obama announced his plan to raise taxes for families and businesses earning more than $250,000 per year. According to analysis by the Joint Committee on Taxation, the tax increases would hit 53 percent of small business income. House Republicans will vote before August to extend tax relief for all tax brackets.
The Supreme Court decision on Obamacare paved the way for $675 billion in new taxes over the next decade. But that's just the tip of the iceberg. Unless Congress takes action, tax rates for all tax brackets will increase on January 1, 2013.
Federal Reserve Chairman Ben Bernanke refers to the looming tax hike deadline as a "fiscal cliff" while the media coined the term "Taxmageddon" to describe the magnitude of the economic disruption that will occur if the current tax rates are not renewed.
"We do not consider whether the Act embodies sound policies. That judgment is entrusted to the Nation's elected leaders."
WASHINGTON, D.C. - U.S. Congressman Tom Cole (OK-4) released the following statement after the Senate on Thursday voted 95-4 in favor of an amendment prohibiting taxpayer funding of political conventions. The amendment to the farm bill, sponsored by Sen. Tom Coburn, is based on legislation Cole and Coburn each introduced earlier this month. Cole has introduced similar legislation in 2009 and 2011.
Ronald Reagan's famous statement that "a government bureau is the nearest thing to eternal life we'll ever see on this Earth" remains frustratingly true. Although Congress has finally begun to cut billions in recognition of the growing threat posed by the massive national debt, many spending programs persist for no justifiable reason. So many budget items continue to be funded due to sheer inertia or political self-interest -- not because they successfully fulfill a worthwhile government function.
Month after month, Americans continue to be pummeled with bad economic news. The dismal employment reports and sobering economic outlooks released in the past few days maintain the unfortunate trend.
WASHINGTON, D.C. – Congressman Tom Cole (OK-04) today introduced H.R. 5912, legislation to terminate taxpayer financing of party conventions. Since 1976, over $220 million of taxpayer funds have been spent on presidential nominating conventions for such expenses as make-up artists, political consulting fees, gift bags, banners and more.
The Department of Health and Human Services recorded a curious line item recently. The health care agency reported spending $20 million in taxpayer money on a contract with public relations firm Porter Novelli to design a national multimedia campaign to promote the Affordable Care Act, more commonly called Obamacare.