Cape News

The Ways and Means Republicans have expressed concerns over the Biden-Harris Administration's decision to let the Trump tax cuts expire. They argue that this move, which could lead to a $7 trillion tax increase, would significantly impact all Americans. This warning was conveyed through a video released by the Republicans.

Earlier this year, Ways and Means Chairman Jason Smith from Missouri and Tax Subcommittee Chair Mike Kelly from Pennsylvania established ten tax teams. These teams were tasked with evaluating key provisions of the Trump tax cuts that offered relief to families, farmers, workers, and small businesses amid the current inflation crisis under the Biden-Harris administration.

Chairman Jason Smith stated that "Ways and Means tax teams have held over 120 events across 20 states" to gather feedback directly from those who might be affected by the proposed tax hike. The goal is to find solutions that Congress can implement to prevent certain provisions from expiring and protect taxpayers from a potential 22 percent increase in taxes.

Smith emphasized that "the economic growth, job creation, and record low poverty" resulting from the Trump-era cuts had a positive effect on Americans' lives. He noted that these sentiments were echoed during various roundtables and events organized by the tax teams nationwide. He assured that Republicans are committed to prioritizing the concerns of workers, families, farmers, and small businesses as they aim to sustain the benefits achieved under Trump's tax policies.