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Six Breaking News Items from Secretary Yellen’s Testimony Before the Ways and Means Committee

March 10, 2023 — Blog

While testifying before the Ways and Means Committee on Friday, Treasury Secretary Janet Yellen made a number of remarks that were newsworthy, ranging from how IRS audits will impact the middle class, to her refusal to share details about who will really pay President Biden’s proposed tax hikes. Here are six key moments. Secretary Yellen committed to make public the ...

Ways and Means Republicans Get Answers from Secretary Yellen About Biden’s Tax Hikes and IRS’s Repeated Abuse of Taxpayers

March 10, 2023 — 'Inflation Reduction Act'

WASHINGTON, DC – House Ways and Means Committee Republicans questioned Secretary Yellen about the Biden Administration’s plans to spend $80 billion to hire 87,000 agents to audit working-class families, raise taxes by $4.7 trillion, and its failure to reassure the public about the IRS’s politically motivated leaks of confidential tax information.

Biden’s Budget on Health Care: Medicare Cuts, Fewer Cures, Higher Drug Prices, and More Government Control.

March 10, 2023 — 'Inflation Reduction Act'

WASHINGTON, DC – President Biden’s budget puts patients and cures last while expanding Washington command and control over America’s health care economy. This budget ignores looming cuts to Medicare, doubles down on Democrats’ harmful cures-limiting plans, expands government-controlled health care, imposes hundreds of billions in new taxes on small businesses, and ...

Chairman Smith: After giving the IRS an $80 billion raise, the Biden Admin now wants taxpayers to give the IRS another $43.2 billion.

March 10, 2023 — 'Inflation Reduction Act'

"Thank you, Madame Secretary, for appearing before the Ways & Means Committee today. I will note, last year we waited 71 days between the release of the President’s Budget and your testimony before this Committee.  So we commend you for promptly appearing today, on the day after the Budget was released, to defend President Biden’s $5 trillion tax hike. "After two years of economic ...

Ways and Means Approves Plan to Avoid Default and Protect Seniors, Military Families, and Veterans in Government Spending Decisions

March 09, 2023 — Blog

WASHINGTON, D.C. — Today, the House Ways and Means Committee, led by Chairman Jason Smith (MO-08), favorably reported out the Default Prevention Act, which would prevent defaulting on our debt, along with an important amendment by Chairman Smith that protects seniors and requires the Biden Administration to put America’s veterans, military families, and national defense ...

Small Businesses Are Settling In for a Weak Economy

March 01, 2023 — Blog

Small businesses continue to be weighed down by historic inflation, chronic labor shortages, and pessimistic expectations of economic conditions for the future, according to the NFIB Small Business Optimism Index. Small businesses are still facing ...

Smith: With Economy Slowing Down, Dark Clouds Ahead

January 26, 2023 — Blog

WASHINGTON, DC – House Ways and Means Chairman Jason Smith (MO-08) released the following statement in response to the first reading of 2022 Q4 GDP showing 2.9 percent annualized growth: “After two straight quarters of decline in 2022, any economic growth is welcomed. Yet underlying demand and investment remains weak and half of the growth ...