WASHINGTON, D.C. – Today, the Ways and Means Committee advanced five tax bills, each of which provides real relief for Americans facing challenges. The Committee voted to repeal a Biden-Harris Administration policy that gives the Internal Revenue Service (IRS) more power to snoop around minor financial transactions by Americans – like buying a couch or selling concert tickets – using payment apps like Venmo and PayPal. Additional legislation approved by the Committee prohibits tax-exem...| Ways and Means
WASHINGTON, D.C. – Relief for workers and small businesses was approved by the House Committee on Ways and Means, led by Chairman Jason Smith (MO-08), with new measures designed to help them navigate price spikes, worker shortages, and supply chain failures in President Biden’s economy. The legislation, called the “Small Business Jobs Act” (H.R. 3937) cuts IRS red tape for contractors and gig workers, helps small businesses raise capital, drives more investment and growth with new exp...| Ways and Means