“The One, Big, Beautiful Bill will give the average family a $1,300 tax cut from their current taxes to help with the pain of high prices.”

WASHINGTON, D.C. – House Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after the release of the April 2025 reading of the Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditure (PCE) price index:

“Despite the scaremongering of so-called experts and Democrat politicians, inflation continues to slow thanks to President Trump’s economic reforms. Regular families are finally starting to see relief from the high prices of Joe Biden. The One, Big, Beautiful Bill will give the average family an immediate $1,300 tax cut to help with the pain of high prices. The pro-growth tax policies for small businesses, manufacturers, and farmers in this legislation will boost median household incomes up to $13,300. President Trump and Congressional Republicans put working families first to ensure we have an economy that helps regular people achieve the American Dream.” 

FACT SHEET: The One, Big, Beautiful Bill Puts American Workers First

FACT SHEET: The One, Big, Beautiful Bill Champions Life and Puts American Families First

READ: Who Benefits: The One, Big, Beautiful Bill Gives Average Family New $1,300 Tax Cut in 2026

READ: Who Benefits: The One, Big, Beautiful Bill Gives Seniors New Tax Relief

READ: Who Benefits: The One, Big, Beautiful Bill Delivers Tax Relief for Workers

Learn more about The One, Big, Beautiful Bill here.