Today, Ways and Means Committee Chairman Jason Smith (MO-08) delivered the following opening statement at a field hearing in Las Vegas, Nevada on how The One, Big, Beautiful Bill benefits workers and families.
As prepared for delivery.
“Good morning and welcome to our Las Vegas field hearing.
“Thank you to our hosts, YESCO Neon Sign Manufacturing, for welcoming us, just as you have done for the millions of people who see your ‘Welcome to Fabulous Las Vegas’ sign when entering this great city.
“Today is the Ways and Means Committee’s first hearing outside Washington since President Trump and congressional Republicans delivered a massive tax cut to working men and women in The One, Big, Beautiful Bill.
“Here, in Las Vegas, 21 percent of workers make their living on tips. This city leads the nation in the share of its workers who earn tips. It only makes sense that it is also the birthplace of one of President Trump’s signature tax relief ideas: no tax on tips. Waitresses, bartenders, bellhops, service workers, and other tipped employees will get a $1,300 tax cut compared to what they pay today. No tax on tips will translate to over $230 million back into the pockets of tipped workers in just the Las Vegas metro alone. That’s money that will be spent at local small businesses, restaurants, and stores, helping both tipped workers better their lives while simultaneously growing the Vegas economy.
“But what will happen here in Vegas will not stay just in Vegas, because America’s 4 million tipped workers will also benefit from no tax on tips.
“The One, Big, Beautiful Bill also delivered no tax on overtime and no tax on Social Security. Blue-collar workers, the men and women who put in the long hours earning an hourly wage to get the job done, will get an additional $1,400 tax cut. Seniors will get a $63 billion tax cut to ensure their retirement isn’t dragged down by high taxes.
“I know here in Nevada, a change related to the deduction of gambling expenses has made some news. The version of The One, Big, Beautiful Bill that passed out of the Ways and Means Committee did not make any changes to the tax treatment of gambling losses. That change was made by the United States Senate. That being said, for those of you concerned about this change, I can tell you that members on both sides of the aisle have heard you and I know that many members on both sides of the aisle are open to working to address it before it goes into effect on January 1st.
“With their no vote on The One, Big, Beautiful Bill, every single Democrat in the U.S. Congress voted against cutting taxes on tips, against cutting taxes on overtime, and against cutting taxes on Social Security.
“Instead Democrats voted to raise your taxes, slash the Child Tax Credit in half for 40 million families, and slash the standard deduction in half.
“It’s a slap in the face to the hard-working men and women of Nevada.
“It’s no surprise: This is the same party that spent four years under Joe Biden making life more expensive.
“President Biden and Democrats gave tax subsidies for electric cars to the wealthy. President Trump and Republicans gave tax cuts to electricians.
“We permanently locked in the lower taxes for workers and families from the first Trump tax cuts in 2017. Americans will permanently pay less in taxes and permanently get a doubled standard deduction. Working moms and dads will get a bigger Child Tax Credit, and parents of newborn babies will receive a $1,000 savings account to plan for that child’s future. Families will get more help with the crushing costs of health care, child care, and education.
“Because of an update we made to the 1099 Miscellaneous IRS form, the first change in almost 50 years, part-time workers, and successful gamblers, especially important here in Las Vegas, will have to deal with less paperwork from the IRS.
“Instead of encouraging the flood of illegal immigrants that started under Democrats with public benefits, Republicans voted to secure the border and end Democrat handouts. Illegal immigrants will no longer be eligible to receive Medicare, paid for by the hard work of single moms waiting tables.
“The One, Big, Beautiful Bill means we stop a 22 percent scheduled tax hike on average American families making less than $100,000 at the end of this year. Instead, we deliver that family an additional immediate $600 tax cut. Families will get nearly $11,000 more in additional take-home pay. That’s several mortgage payments, back-to-school supplies, and a family summer vacation. That’s a huge difference for working families.
“Lower taxes and a bigger paycheck are exactly what 77 million Americans voted for, and President Trump delivered in The One, Big, Beautiful Bill.
“All of this came from the American people. For two years before President Trump’s economic agenda became law, this Committee traveled around the country to hear directly from regular Americans. We held over a dozen field hearings, over 100 tax team events, and visited 30 different states. We traveled to small towns, major cities, farms, factories to hear what kind of future and economy Americans wanted for themselves. What they asked for is reflected in The One, Big, Beautiful Bill: more money in people’s pockets, better jobs in their communities, and a strong and prosperous America.
“Today, we are continuing that work and hearing from Nevadans who represent the winners of The One, Big, Beautiful Bill: waitresses, overtime workers, seniors, and moms and dads, the blue collar workers who actually make this country go. Thank you for taking the time today, away from your family and work, to share with us how President Trump’s agenda will make a difference for you.
“We also want to hear from all of you in the audience. There will be clipboards passed around during the hearing for you to share with the committee how the One, Big, Beautiful Bill affects you. We want to hear your voice and your story as we implement President Trump’s pro-worker and pro-family agenda. Those comments will be entered into the official record for this hearing.”