Rep. Jason T. Smith, U.S. Representative for Missouri's 8th District | Congressman Jason Smith Official U.S. House headshot
Rep. Jason T. Smith, U.S. Representative for Missouri's 8th District | Congressman Jason Smith Official U.S. House headshot
House Ways and Means Committee Chairman Jason Smith has issued a statement following the release of the Consumer Price Index (CPI) report by the Bureau of Labor Statistics. According to Smith, the report highlights inflation issues left unresolved by the previous administration.
“This last inflation report covering the end of the Biden-Harris Administration shows they failed to lower prices and left behind an inflation mess that President Trump is cleaning up,” said Smith. He emphasized President Trump's efforts in reducing energy costs and supporting American workers and manufacturers.
Smith advocates for permanently extending the Trump tax cuts as a solution to help working families. “The best way to help working families is to permanently extend the Trump tax cuts and deliver on the tax relief the American people elected President Trump to enact," he stated.
He expressed concerns about potential tax increases affecting small businesses, which may deter investment and hiring. "Today, small businesses are holding back on investing in new facilities and hiring new workers because they don’t have confidence that their top tax rate won’t go up to 43.4 percent," he added.
Smith outlined several economic benefits from making these tax cuts permanent, including job creation, economic growth, and investments in Opportunity Zones. He warned of negative consequences if Congress does not act to extend these policies, such as job losses, increased taxes for average taxpayers, reduced Child Tax Credits for families, higher taxes for small businesses, and impacts on family-owned farms.
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