WASHINGTON, D.C. – Ways and Means Chairman Jason Smith (MO-08) issued the following statement in observance of Tax Day, warning of the increased threat to taxpayers posed by Democrat efforts to supercharge the IRS and hike taxes on workers and small businesses.
“For working-class Americans, Tax Day brings added stress this year not only because of Biden’s inflation crisis and his threat of higher taxes, but also because of the increased risk of audits from the IRS that will squeeze them for more of their hard-earned dollars. Unlike the wealthiest Americans who can afford an army of lawyers, working families who file their own taxes are praying they don’t get a surprise visit from one of the 87,000 new IRS employees Democrats are spending $80 billion to hire. Taxpayers are also bracing for more pain next tax filing season. Starting next year, taxpayers who receive more than $600 through apps such as PayPal or Venmo to sell furniture, used clothes, or concert tickets will have their transactions reported to the IRS, opening them up to even more scrutiny and audits.
“Republicans prioritized working and middle-class Americans by simplifying our tax system and lowering rates on middle and low income families. That’s why we doubled the standard deduction and increased the child tax credit to put more money in Americans’ pockets and eliminate the stress of weeding through itemized deductions. By contrast, Democrats want to audit Americans to death and track every Venmo transaction and dollar they spend. This tells you a lot about the difference in our priorities.”