WASHINGTON, D.C. – After their economic policies created the worst inflation crisis in a generation, Democrats are reaching back into their bag of discredited talking points to misrepresent The One, Big, Beautiful Bill as anything but a massive tax relief bill for workers, families, farmers, and small businesses. This is the same playbook they used to lie about the 2017 Trump tax cut’s benefits for the working class – but the numbers don’t lie. 

Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement on how The One, Big, Beautiful Bill prioritizes working families above the wealthy and well-connected:

“The facts speak for themselves. After passage of the 2017 Trump tax cuts, we saw a booming economy that raised wages by nearly 5 percent, with those in the bottom 10 percent seeing 50 percent more wage growth than those in the top ten percent. The top one percent of earners paid more in taxes after its passage. The One, Big, Beautiful Bill builds on that success and delivers even greater tax relief, higher wages, and better economic growth – all of which will primarily benefit working families as will President Trump’s priorities of no tax on tips, overtime, and auto loan interest plus tax relief for seniors. The legislation doubles down on pro-growth, pro-family policies that directly benefit low- and middle-income families.

“When they ran Washington, Democrats spent trillions in special interest tax breaks and handouts for the wealthy, well-connected, big banks, and China. Republican tax reform puts working families first. The rich will pay an even higher share of taxes under The One, Big, Beautiful Bill while those Americans making less than $30,000 will see their tax burden cut by 23 percent. And as their tax burden falls, their take-home pay will rise – including an estimated $13,300 increase in pay for a family of four and an $11,600 increase in workers’ wages. It’s simple: The One, Big, Beautiful Bill is a win for the working class.”

FACT SHEET: The One, Big, Beautiful Bill Delivers Biggest Wins for the Working Class 

The One, Big, Beautiful Bill Delivers Biggest Wins for the Working Class

As Passed in the House of Representatives

The One, Big, Beautiful, Bill Cuts Taxes for Working-Class Families Who Need It Most

• In addition to stopping a $1,700 tax increase later this year, the average American family of four making less than $100,000 would receive additional $1,300 in tax cuts. 
• Working families making between $15,000 and $30,000 will have their taxes cut by 23% – the
• largest of any income group.

• As a result of The One, Big, Beautiful Bill, the top 1% will pay MORE in federal taxes than they do today – over 41% of all federal taxes. 
• As a result of The One, Big, Beautiful Bill, the top 10% of earners‘ federal taxes share will INCREASE by 5.5% compared to what they currently pay. 

The One, Big, Beautiful Bill Provides the Biggest Relief to Low-Income Families

• The One, Big, Beautiful Bill will cut taxes for Americans earning under $50,000 by 16.5%. 
• 70% of The One, Big, Beautiful Bill’s tax cuts benefit American families making less than $500,000.
• The tax cuts and economic growth from The One, Big, Beautiful Bill will increase the take-home pay for a family of four by $13,300.

The One, Big, Beautiful Bill Increases American Families’ Income and Workers’ Wages

• The One, Big, Beautiful Bill preserves and boosts the standard deduction by up to $2,000 for working families, providing relief to 91% of American taxpayers.
• After passage, The One, Big, Beautiful Bill is projected to increase real wages in the U.S. up to $11,600 per worker.
• The One, Big, Beautiful Bill boosts income for tipped workers by up to $1,700 by eliminating income taxes on any tipped income for the 4 million tipped workers like waitresses, barbers, hairstylists, and taxi drivers. 
• The One, Big, Beautiful Bill boosts income for hourly workers by up to $1,750 by eliminating income taxes on the OT pay premium for the over 80 million hourly workers who work overtime, stay late, and keep America running.

For more information on The One, Big, Beautiful Bill, click here.

READ: Correcting the Record: Trump’s Tax Cuts Were a Boon for the Working Class