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Economy & Small Business

A healthy economy is the key to a prosperous America. When I travel across the Fourth District of Oklahoma, I am always inspired by the entrepreneurial spirit and can-do attitude of Oklahoma workers and our small businesses, which employ more than half of our state’s workforce.

The COVID-19 pandemic and continuing inflation crisis have taken their toll on millions of Americans. Due to inflation, Americans paid $5,200 more in 2022 for the same goods in 2021. Savings are being depleted, and borrowing has reached its highest level since the 2008 Financial Crisis.

As your member of Congress, I will support policies that strengthen the American economy and support American businesses, especially our small businesses. It is important to maintain a tax code that supports innovation and entrepreneurship. We must also rein in the Biden Administration’s excessive government spending and misguided policies, which instigated our present inflation crisis and threaten to drive our economy into a painful recession. Additionally, we must address the main drivers of our national debt. If left unchecked, our national debt will threaten America’s economic future with higher interest payments, increased risk of financial crises, higher taxes, and a lower standard of living for future generations.

More on Economy & Small Business

Cole Applauds Passage of Welfare Work Requirements Legislation
September 20, 2012
Press Release

WASHINGTON, D.C. – Congressman Tom Cole (OK-04) released the following statement after the House passed H.J.Res. 118, a resolution to overturn the Obama administration's move to waive welfare work requirements.

Issues: Economy & Small Business
House Passes Cole Bill to End Taxpayer Funding of Presidential Conventions
September 19, 2012
Press Release

WASHINGTON, D.C. – Congressman Tom Cole (OK-04) released the following statement after the House passed H.R. 5912, bipartisan legislation he authored to terminate taxpayer financing of party conventions. Since 1976, over $220 million in 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 bill passed by a wide, bipartisan margin of 310-95.

Issues: Economy & Small Business
Failed Energy Policy Leads to Record High Gas Prices
August 27, 2012
Weekly Columns

The media may no longer be paying attention to gas prices, but the American people are fully aware that fuel costs are on the rise again. The $3.72 national average gas price recorded on August 20 was the highest ever observed on that date. Prices have risen 9 percent over the past few months, making 2012 the most expensive year ever for drivers. According to USA Today, industry experts predict average prices could rise as high as $3.90 and remain above $3.00 even into autumn.

Issues: Economy & Small Business Energy & Environment
Medicare Myths Mask Real Threats
August 17, 2012
Weekly Columns

You know election season must be in full swing when "Mediscare" accusations start flying. Unfortunately, the heated rhetoric obscures the most relevant and startling point of all: Medicare will go bankrupt by 2024. This is not speculation or a partisan claim; it is a fact documented in this year's annual report from the Medicare and Social Security Trustees.

Rather than confront this reality and communicate honestly with the American people about options to save the vital program, the Obama campaign has chosen the time-honored tradition of sowing fear and division.

Issues: Economy & Small Business Social Security
One Step Closer to Tax Reform
August 13, 2012
Weekly Columns

One day after voting to prevent a massive tax hike from hitting small businesses and families, House Republicans also took action to reform the entire tax code. It's not just high tax rates that discourage businesses from growing. The very structure of the tax system is so complex, inefficient, and unfair that the United States is becoming one of the worst places to do business in the developed world.

Issues: Economy & Small Business
House and Senate Offer Different Visions for Tax Policy
August 3, 2012
Weekly Columns

I recently sat down in Norman with a group of small business owners to get their perspective on economic issues. While politicians in Washington argue over how to create jobs, these local employers are the ones responsible for making payroll each month and working to make their businesses grow in a challenging economy.

Issues: Economy & Small Business
Cole Praises Passage of Tax Cut Extension
August 1, 2012
Press Release

WASHINGTON, D.C. - U.S. Congressman Tom Cole (OK-4) released the following statement after the House passed H.R. 8, the Job Protection and Recession Prevention Act. The bill extends the current low tax rates for all American taxpayers and small business owners for one year, preventing a $384 billion tax increase beginning on January 1, 2013.

Issues: Economy & Small Business
Government Builds Obstacles to Business Growth
July 30, 2012
Weekly Columns

"It's now easier to start a business in Slovenia, Estonia and Hungary — three former Iron Curtain countries — than in America." That's the conclusion reached by the editors of Investors Business Daily in response to a study measuring the regulatory hurdles confronting entrepreneurs around the globe. According to statistics compiled by the Organization for Economic Co-operation and Development (OECD), even liberal Canada requires fewer procedures to start a new business than American entrepreneurs face.

Issues: Economy & Small Business
Cole Votes to Audit the Federal Reserve
July 25, 2012
Press Release

WASHINGTON, D.C. - U.S. Congressman Tom Cole (OK-4) released the following statement after House passage of H.R. 459, the Federal Reserve Transparency Act. This legislation would allow the Government Accountability Office (GAO) to conduct a full audit of the Fed and report its findings within 12 months. Under current policy, the GAO is unable to audit Fed activities related to monetary policy matters or transactions for or with foreign central banks, governments, and international organizations.

Issues: Economy & Small Business
Cole Urges Passage of Indian Tribal Trade and Investment Demonstration Project Act
July 24, 2012
Speech

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) made the following remarks on the House floor in support of H.R. 2362 - the Indian Tribal Trade and Investment Demonstration Project Act, which he authored. This legislation would eliminate red tape in the tribal leasing process to facilitate U.S. trade with international partners and help economic development on tribal land. Capitalizing on the interest overseas companies have shown in working with Indian tribes, H.R.

Issues: Economy & Small Business Tribal Relations