Cape News

U.S. Representative Jason Smith, chairman of the House Ways and Means Committee, has announced several provisions in the recently passed One, Big, Beautiful Bill that are aimed at providing tax relief for families, workers, and seniors in southeast and south-central Missouri.

“The One, Big, Beautiful Bill delivers much-needed tax relief to those who need it most: families, workers, and seniors,” said Smith. “It’s exactly what they need after struggling to get by in President Joe Biden’s painful economy, where the price of everyday goods skyrocketed by more than 20%. Thanks to the enhanced Child Tax Credit, families will have more money to afford groceries, clothes, school supplies, and other necessities. The no taxes on tips and overtime provisions will bring relief to thousands of Missourians who work hard and put in long hours to take care of their families. And under this bill, middle- and lower-income seniors will pay no taxes on their benefits. These are just a few examples of how significant and positive an impact this landmark legislation will have on hardworking folks in rural Missouri. The One, Big, Beautiful Bill is nothing short of the greatest piece of working-class tax relief in a generation.”

Smith led efforts in Congress to draft the bill's tax measures. The legislation provides what is described as the largest tax cut for working families, farmers, and small businesses in U.S. history. It includes a 21% tax cut for households with annual incomes between $15,000 and $30,000.

A key part of the bill increases the Child Tax Credit (CTC) to $2,200 per child and makes it permanent—a provision affecting over 70,000 families in Missouri’s 8th Congressional District. Without legislative action before the end of 2025, this credit would have been reduced by half.

The bill also introduces a new investment account for newborns called Trump accounts with an initial deposit of $1,000 designed to grow over time. In June 2025 Smith appeared alongside former President Donald Trump at an event promoting these accounts.

The legislation keeps intact an expanded standard deduction from previous Trump-era tax cuts while increasing its value further. According to Smith’s office this expansion means up to $10,900 more annually for average American families.

Provisions such as no taxes on tips or overtime—proposed by former President Trump—were also included following advocacy from Smith. These measures are expected to benefit many local workers; Missouri has over 102,000 tipped employees and about 1.2 million hourly workers.

Seniors are another focus group under the bill with nearly 150,000 district residents collecting Social Security set to see increased savings through changes related to standard deductions.

Jason Smith has represented Missouri’s 8th district since 2013 after serving eight years in the state legislature (https://www.house.gov/representative/jason-smith). He was born in St Louis in 1980 (https://bioguide.congress.gov/search/bio/S001193), lives in Salem (https://www.smithforcongress.com/about-jason), graduated from University of Missouri with a bachelor’s degree (https://missouri.edu/alumni) before earning his law degree at Oklahoma City University (https://law.okcu.edu/alumni).