Cole Criticizes Majority's New Budget Plan

New Budget Proposal Calls for the Largest Tax Increase in American History


WASHINGTON, D.C. - U.S. Congressman Tom Cole (OK-4) today released the following statement regarding the House Democrats' FY 08 budget proposal, which calls for the largest tax increase in American history.

"After six years of Republican led tax relief that has led to a booming economy, low unemployment, and substantial savings for the American people, the new Majority has laid out a budget proposal that calls for the largest tax increase in American history, $392.5 billion over five years. This proposal does nothing to reign in frivolous government spending and deliberately ignores the mounting entitlement spending facing our country today. "

"On top of all this, the new Majority's budget proposal increases federal spending in 2008 by $22.5 billion dollars for non-defense, non-emergency appropriations. The Majority is proposing a reckless spending spree and asking the American taxpayer to pick up the tab. This destructive budget proposal threatens to bring our nation's booming economy to a screeching halt."

"This is an issue on which Congress has a grave responsibility to reach across party lines and pursue a budget proposal that will keep dollars in the pockets of working Americans and maintain our strong economy."

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