WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after the Bureau of Labor Statistics released the jobs report, showing the economy again beat expectations and created 139,000 new jobs last month:

“The labor market under President Trump continues to create good-paying jobs for the American people with paychecks that help replace the money stolen by Bidenflation. The One, Big, Beautiful Bill will ignite economic growth, save more than 7 million jobs and create millions more. Permanence of the small business deduction alone will create over 1 million new Main Street jobs annually and 1.1 million manufacturing jobs will be saved. By including President Trump’s priorities of no tax on tips, overtime, and auto loan interest as well as tax relief for seniors, hardworking Americans will see more money in their pockets. It protects working families from a $1,700 tax hike and instead will deliver a $1,300 tax cut compared to what they pay today, as well as an estimated $11,600 in higher wages per worker and up to $13,300 more in take-home pay. Congress must get this pro-growth, pro-worker bill to the President’s desk by the Fourth of July. Failure is not an option.”

KEY FACTS:
The One, Big, Beautiful Bill is pro-growth tax policy that will fuel a resurgence in economic growth and deliver more jobs, higher wages, and tax relief for low-income Americans.

• America’s real gross domestic product (GDP) will increase by an estimated 5.2 percent over the next four years and 3.5 percent in the long term. 
• 9.8 to 14.5 percent predicted boost in investment in the next four years and a 4.9 to 7.5 percent boost in long-term investment. 
• 6.6 to 7.4 million full-time jobs saved or created in the next four years and 4.2 million saved or created in the long term. 
• Saves the average American family from a $1,700 tax hike – the equivalent of 9 weeks of groceries.
• Delivers an additional $1,300 tax cut for the average American family. 
  • Delivers up to $11,600 in higher wages per worker.
  • Delivers up to $13,300 more in take-home pay for a family with two children.
• Delivers on President Trump’s priorities of no tax on tips, overtime pay, car loan interest, and tax relief for seniors that will put more money annually in the pockets of millions of Americans:
  • Up to $1,750 for overtime workers.
  • $1,700 for tipped workers.
  • Up to $450 for seniors.

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.