House Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the Bureau of Labor Statistics released the Producer Price Index report for June 2023:

“Prices paid by small businesses continue to rise, making Main Street’s future more uncertain, while a labor shortage has forced some businesses to cancel entire shifts, rising interest rates have made expansion difficult, and supply chains are still struggling. In our travels to communities around the country, the Ways and Means Committee has listened to small businesses who are battening down the hatches to prepare for a recession, if we’re not in one already. In response to the concerns shared by job creators and workers, we built the American Families and Jobs Act to give Main Street some relief from the Biden economy, create new jobs in corners of America long forgotten by Washington, and grow our economy.”

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