Cape News

Rep. Jason Smith, who has been serving in the U.S. Congress representing Missouri's 8th district since 2013, recently shared his views on a legislative proposal known as "The One, Big, Beautiful Bill." This bill aims to make permanent certain tax provisions from the 2017 Trump Tax Cuts and includes measures to support rural America and reduce borrowing costs for farmers.

On July 3, 2025, Rep. Smith tweeted about the bill's tax implications: "The One, Big, Beautiful Bill makes lower tax rates and brackets, doubled Guaranteed Standard Deduction, and Child Tax Credit from the 2017 Trump Tax Cuts permanent." He emphasized that making these provisions permanent would prevent a $1,700 tax hike on American families.

Later that day, he addressed how the bill supports rural America by ensuring domestic farmers remain competitive in liquid fuel production markets: "The One, Big, Beautiful Bill protects Rural America’s ability to help deliver fuels for America." The bill aims to prevent foreign imports such as Chinese cooking oil from dominating these markets.

Finally, Rep. Smith highlighted how the bill intends to lower borrowing costs for farmers: "The One, Big, Beautiful Bill lowers the cost of borrowing for America’s farmers." This is achieved by reducing the tax burden on interest income for loans secured by real property used in agricultural production.

Jason Smith was born in St Louis in 1980 and resides in Salem. He graduated with a BS from the University of Missouri and earned a JD from Oklahoma City University.