New Majority Votes to Raise Taxes

WASHINGTON, D.C.-U.S. Congressman Tom Cole (R-Moore) today strongly opposed the new Majority's budget proposal calling for the largest tax increase in American history, $392.5 billion over five years. The proposed budget allows the tax cuts of 2001 and 2003 to expire, effectively raising taxes on middle class families, small businesses and family farms.

"I will never support a budget that allows Congress to waste massive amounts of money and charge it to the taxpayers," Congressman Cole said. "The budget proposed by Nancy Pelosi and her liberal allies in Congress will result in bigger government, fewer jobs and less opportunity for middle class taxpayers to pursue the American Dream. This contradicts the Oklahoma values of hard work, thrift and fiscal responsibility."

The Majority's budget proposal will impose a $2,500 tax hike on 1.175 million Oklahomans. And across the country this budget will impose an average increase of $2,890.11 on American taxpayers, and 26 million small business owners nation-wide will see nearly $4,000 in federal tax increases. In addition, the Majority's budget proposal will increase federal spending in 2008 by $22.5 billion dollars for non-defense, non-emergency appropriations.

"Oklahomans deserve to keep more of their hard-earned money. Congress should never use tax dollars to go on a reckless spending spree and expect the American taxpayers to pick up the tab," Congressman Cole continued. "I will work hard to pass a budget that reflects the values of Oklahomans, not those values represented by the liberals in Congress."

Unfortunately, the Majority's budget proposal passed with a vote of 216 to 210. All five Oklahoma House Members voted against the resolution.

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