Cape News

House Committee on Ways and Means Chairman Jason Smith announced a hearing scheduled for January 14, aimed at discussing the necessity of making the Trump Tax Cuts permanent. The hearing will focus on the impact these cuts have had on working families and small businesses in America.

Chairman Smith emphasized the importance of this legislation, stating: “For the past two years, the Ways and Means Committee has been hard at work to extend and build on the success of President Trump’s tax cuts – the most significant tax relief legislation in a generation that unleashed America’s potential and created the best economy of my lifetime." He further noted that these tax cuts contributed to economic growth exceeding previous forecasts, achieving record lows in poverty and unemployment while revitalizing American manufacturing.

Smith also warned of a potential $4.6 trillion tax increase if action is not taken before the end of the year. "Without action, workers paychecks one year from today will look drastically different as they fork over even more to Uncle Sam,” he stated.

The hearing titled "The Need to Make Permanent the Trump Tax Cuts for Working Families" will take place following an organizational meeting at 10:00 AM in Room 1100 Longworth House Office Building. It will be available via livestream on the Committee's YouTube page.

Further details and updates can be found on the Committee's website.