112th Congress
The sudden, significant spike in gas prices is straining American family budgets and jeopardizing our fragile economic recovery. Unrest in North Africa and the Middle East has driven prices up 20 cents in just the last few days, and prices have increased 68 cents compared to this time last year. According to analysts, every penny increase in gas prices costs consumers an extra $4 million per day.
A government shutdown has been averted. For now. Harry Reid and Senate Democrats were poised to close the government rather than accept House Republicans' plan to cut $100 billion from the remaining months of the 2011 budget. The House GOP majority remained firm in our conviction that spending must be reduced and passed a short-term version of our original legislation. Rather than cutting $100 billion over 7 months, this bill cuts $4 billion over two weeks.
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the House approved H.R. 4 – Small Business Paperwork Mandate Elimination Act of 2011. The legislation repeals a burdensome provision of Obamacare requiring small businesses and rental property owners to file an IRS Form-1099 for any vendor with which they have more than $600 in yearly transactions. The bill reduces the deficit by $166 million in the first 10 years, cuts federal spending by $20 billion over ten years and reduces taxes by $19.7 billion:
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the House approved legislation to fund the government through March 18 while cutting $4 billion in spending:
"House Republicans have demonstrated that we are committed to cutting spending and keeping the government running. Now Harry Reid and Senate Democrats must decide whether to work with us or to fight the spending cuts demanded by the American people."
Media reports may try to suggest otherwise, but the responsibility of avoiding a potential government shutdown rests entirely with Harry Reid and the Senate Democrats.
Rep. Tom Cole (OK-04) hosts his monthly program "Cole on Congress" and visits with Rep. Kevin Brady (TX-08) to provide an analysis on the issues facing our nation. (February 2011)
The budget released last week by President Obama is the clearest signal yet that Congress should expect no support from the White House in tackling the national debt. The 2012 budget was President Obama's opportunity to provide leadership and show he is serious about addressing the most dire debt crisis in our history.
Instead, the president offered a budget that proposes $8.7 trillion in new spending, $1.6 trillion in new taxes, and $13 trillion in new debt.
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after House Republicans approved legislation that cuts $100 billion in spending from the President Obama's fiscal year 2011 budget:
"Historic deficits require historic spending cuts, and that's exactly what House Republicans have achieved. We pledged to voters that we would cut $100 billion this year, and we took less than eight weeks to do it.
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement in response to the release of President Obama's 2012 budget. Cole serves on the House Budget Committee and the Appropriations Committee.
"The president's budget demonstrates a disappointing lack of leadership. America will go bankrupt unless both parties come together and make tough choices, yet President Obama has ignored our massive debt and delivered a budget that contains even more spending, taxing and borrowing.
Thanks to the former Democratic majority's failure to pass a budget last year for 2011, Congress has an opportunity to undo some of the fiscal damage President Obama has inflicted on the current budget, while simultaneously charting a fiscally responsible course for 2012.