U.S. Congressman Tom Cole (OK-4) released the following statement after the bipartisan passage of H.R. 5872, the Sequestration Transparency Act of 2012. The legislation would require the president to submit to Congress a detailed report on how his administration plans to implement the sequestration spending cuts set to begin in 2013.
"There is strong bipartisan agreement that the sequester is a terrible policy that should not be allowed to happen. These automatic, arbitrary cuts could cost Oklahoma's economy up to 16,000 jobs and $630 million.
"The Obama administration's failure to disclose how it would implement the sequester cuts is making a bad situation worse, causing even more uncertainty in the armed forces and undermining their ability to provide for our defense.
"The House acted in May to replace the sequester with targeted, reasonable spending cuts. By forcing the Senate and White House to confront the reality of the sequester, I hope they will be motivated to join the House in working to avoid the disastrous consequences of this irresponsible policy."