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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 Votes to Cut $6.2 Trillion
April 15, 2011
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement in after voting in favor of H.Con.Res 34, the House Republican 2012 budget resolution introduced by Budget Committee Chairman Paul Ryan.

Cole serves on the House Budget Committee and the Appropriations Committee.


"Today's vote marks a turning point for the economy. The Ryan Budget cuts $6.2 trillion and signals the end of business as usual in Washington. After years of reckless spending and trillion-dollar deficits, Congress has finally gotten on the right fiscal path.

Issues: Economy & Small Business
Cole: Obama Plan is More of the Same
April 13, 2011
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement in response to President Obama's speech today on the deficit.

Cole serves on the Budget and Appropriations committees.


"Today's speech was the least presidential and most political President Obama has delivered yet. The president criticized and distorted the Republican budget plan without offering any substantive proposals of his own. Tax hikes do not qualify as a valid solution to our crushing entitlement debt.

Issues: Economy & Small Business
Cole Praises Budget Agreement
April 9, 2011
Press Release

House, Senate Agree to Largest Spending Cut in American History

WASHINGTON, D.C. - U.S. Congressman Tom Cole (OK-4) released the following statement after Congress approved a temporary funding measure to avert a government shutdown and agreed to pass a long-term bill to cut almost $80 billion below President Obama's 2011 budget request -- the largest spending cut in American history:

Issues: Economy & Small Business
Cole Votes to Cut Spending, Avert Shutdown
April 7, 2011
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after voting in favor of H.R. 1363, The Troop Funding Bill, which was passed today by House Republicans. The legislation funds government operations for one week with cuts of $12 billion, provides funding for U.S. Armed Forces for the remainder of the fiscal year, and would avert a government shutdown if adopted in the Senate.

Issues: Economy & Small Business
Cole Praises GOP Path to Prosperity Budget
April 5, 2011
Press Release
"The House Republican budget is more than serious -- it's revolutionary. We've reached the point where only a decisive plan can reverse our disastrous debt trajectory, and that's exactly what Chairman Ryan and House Republicans have delivered. This budget cuts $6.2 trillion, reforms our outdated tax code, and saves Medicare and Medicaid from bankruptcy.
Issues: Economy & Small Business
Cole Comments on Government Shutdown Prevention Act
March 30, 2011
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement regarding the Government Shutdown Prevention Act, which will be considered in the House of Representatives this week:


"It's been 39 days since House Republicans passed a bill to cut $100 billion and keep the government running for the rest of the year, yet the Senate refuses to act. Two things are obvious: Senate Democrats have no interest in cutting spending, and they believe a government shutdown serves their political interests.

Issues: Economy & Small Business
Cole: It's Time to Pass 2011 Budget and Move On
March 15, 2011
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the House approved the latest in a series of short-term budget measures to avert a government shutdown and fund the government through April 8 while cutting $6 billion in spending:


"Democrats seem content to waste week after week dealing with their unfinished business from last year while our economic security hangs in the balance, but enough is enough. House Republicans have passed $100 billion in spending cuts, yet Senate Democrats can't even agree to cut $10 billion.

Issues: Economy & Small Business
Cole Praises Repeal of Obamacare Tax Form Provision
March 3, 2011
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the House approved H.R. 4 – Small Business Paperwork Mandate Elimination Act of 2011. The legislation repeals a burdensome provision of Obamacare requiring small businesses and rental property owners to file an IRS Form-1099 for any vendor with which they have more than $600 in yearly transactions. The bill reduces the deficit by $166 million in the first 10 years, cuts federal spending by $20 billion over ten years and reduces taxes by $19.7 billion:

Issues: Economy & Small Business Healthcare
Cole Comments on Short-Term Funding Bill
March 1, 2011
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the House approved legislation to fund the government through March 18 while cutting $4 billion in spending:


"House Republicans have demonstrated that we are committed to cutting spending and keeping the government running. Now Harry Reid and Senate Democrats must decide whether to work with us or to fight the spending cuts demanded by the American people."

Issues: Economy & Small Business
Cole Applauds Historic Spending Cuts
February 20, 2011
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after House Republicans approved legislation that cuts $100 billion in spending from the President Obama's fiscal year 2011 budget:

"Historic deficits require historic spending cuts, and that's exactly what House Republicans have achieved. We pledged to voters that we would cut $100 billion this year, and we took less than eight weeks to do it.

Issues: Economy & Small Business