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Cole Spending Cut Proposal Considered in YouCut Initiative

May 13, 2010
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) today issued the following statement after the House Republican Economic Recovery Working Group launched YouCut, a first-of-its kind initiative designed to give taxpayers an opportunity to vote on spending cuts they would most like to see Congress enact. Cole's proposal to eliminate the Presidential Election Fund is one of the first spending cuts to be considered under the program.

"Wasteful government spending is bankrupting the country, and the American people know it," said Cole. "The YouCut initiative allows taxpayers to communicate directly to Congress exactly which spending cuts should be tackled first. House conservatives are committed to proposing new spending cuts every week until we change Washington's runaway spending culture.

"I'm pleased that my proposal to get rid of the Presidential Election Fund was selected as one of the first to be considered," Cole added. "Taxpayer money should not be used to finance presidential campaigns -- especially considering candidates raised over $1 billion in the last election. The fund is just one more example of outdated, unnecessary expenses that need to go."

Each week, the House Economic Recovery Solutions Group will post online (at a list of five proposals to reduce wasteful or unnecessary spending. The public will have a chance to vote online or on their cell phones on the proposal they would most like to see Congress take up. The following week, House Republicans will force the House to vote on whether or not to take up and debate the bill.

Cole's proposal, one of five to be considered in the initial round of online voting, would abolish the Presidential Election Fund, a federal program that provides matching funds to presidential primary candidates, certain third-party candidates, and funds for political conventions. In the 2008 presidential election, the candidates raised over $1.3 billion from individuals and PACs, making taxpayer money unnecessary.