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Analysis: Guaranteed Deduction Bonus is a Targeted Working-Class Tax Cut

June 20, 2023 — Press Releases

WASHINGTON, D.C. – Working families will be the primary beneficiary of a new bill passed out of Congress’s tax-writing panel last week, as new analysis debunks Democrats’ misleading claims otherwise. The $4,000 Guaranteed Deduction Bonus in the Tax Cuts for Working Families Act approved by the Ways and Means Committee provides targeted tax relief for working families, ...

Ways and Means Committee Passes Tax Cuts for Working Families Act

June 13, 2023 — Markup

WASHINGTON, D.C. – The House Committee on Ways and Means, led by Chairman Jason Smith (MO-08), passed the Tax Cuts for Working Families Act today to provide American families with much-needed tax relief and alleviate the pain of the Biden inflation crisis. This legislation builds on successful provisions of the Tax Cuts and Jobs Act by increasing the doubled Guaranteed ...

With Inflation Continuing to Hammer Families and Small Businesses, Ways & Means Committee Is Taking Action to Provide Relief

June 13, 2023 — Bidenflation

WASHINGTON, DC – As the Ways and Means Committee takes up the American Families and Jobs Act today to provide families and small businesses relief from Democrats’ inflation crisis, new data from the Consumer Price Index (CPI) shows prices have increased 15.5 percent since President Biden took his Oath of Office and Democrats began their massive spending spree. The need for ...

Ways and Means Passes the Build It in America Act to Restore American Competitiveness, Counter China’s Growing Influence, Lower Gas Prices, Repeal Democrats’ Green Special Interest Tax Breaks

June 13, 2023 — Markup

WASHINGTON, D.C. – The House Committee on Ways and Means today passed legislation that would counter China’s growing global economic influence by restoring American business competitiveness, securing global supply chains, and prohibiting U.S. foreign land sales to companies from countries of concern. The Build It in America Act, written based on feedback the ...

Chairman Smith Committee Remarks: Working Families Tax Cut Act

June 13, 2023 — Markup

As prepared for delivery. "Working Americans and their families have been ignored by the Biden Administration and Washington Democrats. Two years of out-of-control inflation, rising interest rates, and economic downturn caused by the Democrats’ radical spending spree has left American families in a worse spot than they can remember.

Ways and Means Passes Small Business Jobs Act to Help Main Street America Suffering in the Biden Economy

June 13, 2023 — Markup

WASHINGTON, D.C. – Relief for workers and small businesses was approved by the House Committee on Ways and Means, led by Chairman Jason Smith (MO-08), with new measures designed to help them navigate price spikes, worker shortages, and supply chain failures in President Biden’s economy. The legislation, called the “Small Business Jobs Act” (H.R. 3937) cuts IRS red tape ...

Chairman Smith Committee Remarks: Small Business Jobs Act

June 13, 2023 — Markup

As prepared for delivery. "Main Street has struggled in the Biden economy. We’ve heard directly from small businesses during our hearings around the country about the real challenges they face today. Their testimony exposed the painful reality that the economy under President Biden is harming small businesses.   "To help strengthen small businesses forced to navigate price ...

Smith Introduces the American Families and Jobs Act to Cut Taxes for Working Families, Grow Main Street Businesses, and Protect American Innovation & Competitiveness

June 09, 2023 — Bidenflation

WASHINGTON, D.C. - In response to specific concerns raised by American workers, families, farmers, and small businesses during field hearings across the country, Ways and Means Committee members have introduced legislation to help struggling families, grow jobs, and support a stronger economy. Today, these solutions are being combined as part of a new ...