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October 19, 2017

Inhofe Supports Balanced Budget that Paves Way for Tax Cut

U.S. Sen. Jim Inhofe (R-Okla.), a committed fiscal conservative, praised the Senate for passing a budget resolution for fiscal year 2018, paving the way for the Senate to pass a comprehensive tax cut. The budget resolution would also provide a path to a balanced budget by restraining federal spending, reducing tax burdens and boosting economic growth:

“Passage of the budget today paves the way for the Senate to cut taxes through comprehensive tax reform. This budget also cuts over $5 trillion of wasteful spending and yields a budget surplus of nearly $200 billion within 10 years. Fiscal restraint has been absent from Washington for too long, and today’s budget is a first step to reining in the excess of the last eight years.  

“This budget resolution will also provide clear instructions to restart the engine of the ‘Made in America’ economy by instructing the Senate to take up comprehensive tax reform. I am especially pleased that this budget resolution will also open the door to oil and gas exploration and development in the Arctic National Wildlife Refuge, promoting North American energy independence.   

“As a senior member of the Senate Armed Services committee, I appreciate that the budget resolution provides the opportunity for the Senate to eliminate the ‘caps’ that arbitrarily limit our nation’s defense spending. We need to invest in our military to ensure they have the training, resources and equipment they need to respond to threats from North Korea, Iran, Russia and Islamic extremism.”

Inhofe also voted in favor of Sen. Rand Paul (R-Ky.)’s amendment #1277 to the budget resolution that would direct Congress to include instructions to repeal and replace Obamacare through the reconciliation process.

“Oklahomans are facing tripling premiums and lack of choice in their health care. Congress must act to correct the failures of Obamacare and replace it with common-sense solutions that will make health care truly affordable, and this amendment was an opportunity to continue our efforts. I remain steadfastly committed to repealing and replacing Obamacare with a health care system that works for Oklahomans.”

Read Sen. Inhofe’s recent op-ed, Time for Tax Reform, here.

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