Congressman Mike Pompeo responds to President Obama's State of the Union address
Congressman Mike Pompeo, R-Kansas, responded to the President’s State of the Union with the following statement:
“The president thinks he knows what CEOs want. I was a manufacturing CEO twice: once in aviation, an industry which he has relentlessly attacked, and once in energy, an industry he has also relentlessly attacked. And I have news for him: He has no idea what CEOs want.
“He wants to cut ‘special loopholes’ that are neither ‘special’ nor ‘loopholes’ – they’re the same boring depreciation schedules all small businesses use. He calls for modern pipelines to withstand a storm and promises to speed up permitting issues, but refuses to approve the long-awaited Keystone XL pipeline which would create hundreds of thousands of jobs. He wants to increase ribbon cuttings at special government-designated manufacturing hubs while he’s increasing taxes, costs, and red tape on manufacturers who already exist. And he wants to increase medical innovation at a time when Obamacare levies a huge tax on medical devices.
“He just doesn't get it. The government doesn't drive the creation of successful manufacturing. All the government has to do is get out of the way and American businesses will take care of the rest.
“I’m disappointed that the President didn't use this opportunity to truly address the state of our union and specifically, our finances. We’re $16 trillion in debt, and no amount of taxation will get us out of that hole, and no amount of government-sponsored growth will help our economy. The Congressional Budget Office has made it clear: We need structural entitlement reform and cuts to discretionary spending. The President didn't provide clarity on either.”