WASHINGTON, D.C. – To date, the Ways and Means Committee Tax Teams have held over 120 events in 20 states to prepare for the expiration of the Trump tax cuts in 2025. Over the past several weeks, the Tax Teams have continued holding roundtables and site visits to hear from workers, job-creators, and community leaders about how detrimental Vice President Harris’s promised repeal of the Trump tax cuts would be to working families, small businesses, and communities across the nation.
Community Development
Rep. Darin LaHood (IL-16), Chairman of the American Workforce Tax Team and member of the Community Development Tax Team, visited two Low-Income-Housing Tax Credit projects in his district to hear about how the tax code can help the development of new housing for low to middle-income families.
Rural America
Rep. David Kustoff (TN-08) held a roundtable discussion with small businesses in Shelby County, Tennessee. During the roundtable, Congressman Kustoff and Tennessee job creators discussed the Trump tax cut provisions that are set to expire in 2025 and local business leaders discussed the need to implement a pro-growth, pro-America tax package next Congress.
Main Street
Main Street Tax Team member Rep. Beth Van Duyne (TX-24) joined members of the Main Street Employers Coalition at the Republic National Distributing Company’s warehouse in Grand Prairie, Texas to discuss how the Trump tax cuts, especially the Section 199A small business deduction, has allowed the company to grow its operations and give back to its community. During the conversation, roundtable participants underlined the need for tax policy that builds on the success of the Trump blueprint to empower local businesses and strengthen the American economy.
Committee Chairman Smith Hosts Tax Team Events in Missouri
Ways and Means Committee Chairman Jason Smith (MO-08), joined by Reps. Ron Estes (KS-04), Chair of the U.S. Innovation Tax Team, and Mark Alford (MO-04), hosted a roundtable discussion in Kansas City, MO to hear from local business leaders across various industries about how Congress must prevent the Biden-Harris Administration’s promised $7 trillion tax hike next year. Roundtable participants emphasized the consequences they will face if the Trump tax cuts’ small business provisions, including Section 199A, is allowed to expire, along with the need to address 100% immediate expensing and research and development incentives.
In St. Louis, Missouri, Ways and Means Committee Chairman Smith, joined by Ways and Means member Rep. Darin LaHood (IL-16) and Rep. Ann Wagner (MO-02), held a roundtable to hear from business leaders and workers in the Show Me State who urged Congress to take action to prevent the looming expiration of the Trump tax cuts and the $7 trillion tax hike proposed by the Biden-Harris Administration. Participants stressed that the Biden-Harris plan to allow the small business Section 199A provision to expire would increase the tax rate paid by small businesses to over 43 percent – nearly 20 percentage points higher than what businesses pay in Communist China – and significantly impact supply chains. Additionally, participants shared the importance of a competitive corporate rate and its role in adding jobs to the labor market, lowering costs, and increasing employee take-home pay.
To learn more about the work of the Ways and Means Committee Tax Teams, click here.