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Smith on Varney & Co: The Republican Majority Will Help Make This Economy Stronger

January 13, 2023

WASHINGTON, DC – On Varney & Co, House Ways and Means Chairman Jason Smith (MO-08) laid out his vision for the Ways and Means Committee – partnering with the American people to lower taxes, bring more investment to each community, become energy independent again, and bring more of the supply chain back home.

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Smith shared the specific issues and challenges that the Ways and Means Committee will tackle to build a stronger economy for working families:

We have to have hearings amongst real Americans. I want to take field hearings of the Ways and Means Committee throughout this country to discuss what happened in 2017 with the Tax Cuts and Jobs Act.

“We had the best economy we’ve seen in a generation after the passage of the Tax Cuts and Jobs Act, but we also have to have tax provisions, Stuart, that help our supply chains. We need to use the tax code and trade mechanisms to make our country energy independent, and we need to use the tax code and trade policy for food security and health care security. Those are the priorities.

Smith reiterated House Republicans will never default on our debt and will listen to Americans’ demands that Congress rein in the reckless spending that sparked the worst inflation crisis in a generation:

The American people are the ones that’s demanding the cut in spending. What you’ve seen in the last two years of Democrat one-party rule is they’ve added more than $10 trillion of new spending that has led to the highest inflation in 40 years. Inflation has gone up 13.9 percent since Joe Biden took the oath of office.”

“They are demanding that we use every tool in the toolbox to eliminate reckless spending. If you look at the history of the debt limit, in fact, when Obama and Biden were in office, to increase the debt limit, they also passed a caps agreement. We have to have fiscal reforms moving forward. We cannot just give an unlimited credit card.”