Cole Statement on Obama Tax Hike Proposal
WASHINGTON, D.C. - U.S. Congressman Tom Cole (OK-4) released the following statement after President Obama announced his plan to raise taxes for families and businesses earning more than $250,000 per year. According to analysis by the Joint Committee on Taxation, the tax increases would hit 53 percent of small business income. House Republicans will vote before August to extend tax relief for all tax brackets.
"President Obama has clearly learned nothing during his time in office. After 41 straight months of 8 percent or higher unemployment, a call for tax hikes is the last thing the job market needs. Businesses are already being pummeled by regulations, higher costs and uncertainty created by the president's failed policies. Raising taxes during an employment crisis is so irresponsible even Nancy Pelosi thinks the president's plan is a bad idea. Instead of trying to create political conflict, President Obama should work with Congress to extend tax relief for all Americans."