Cole Responds to President’s Final Budget Proposal
Washington, D.C. – Congressman Tom Cole (OK-04), a member of the House Committee on the Budget, released the following statement after President Barack Obama unveiled his $4 trillion budget proposal for fiscal year 2017.
“After seven long years under the Obama Administration, it should come as no surprise that the president’s final budget proposal reflects how out of touch he is with economic reality,” said Cole. “While the nation’s debt continues to climb at an alarming rate, the president ignored and missed yet another opportunity to recommend serious reforms to pay it down. Instead of choosing to lead America toward a path of fiscal responsibility, the president has again offered a wish list that taxes too much, spends too much and never ever, ever balances. This politically and philosophically unrealistic proposal, which adds nearly $7 trillion to the already high debt, stands absolutely no chance at becoming law—something the White House surely knows.
“As our nation’s once-thriving energy industry continues to struggle and face setbacks, I am especially alarmed that the president wants to make matters worse by placing a $10 tax on every barrel of crude oil. This ridiculous tax would certainly lead to many more valuable jobs lost and directly impact families and households across the entire country by increasing the cost of everything that every American purchases.
“Finally, while the proposals for curing cancer and combating opioid abuse are worthy goals, the president’s proposed methods are simply unacceptable budget gimmicks that irresponsibly rely on mandatory spending. Certainly, when lawmakers work together to confront these and other health concerns, we will do so within the constraints of the budget caps previously agreed to by Congress and the president,” concluded Cole.
Contact: Sarah Corley (202) 225-6165