SIMI VALLEY, CA – Beneath Air Force One inside the Ronald Reagan Presidential Library, the Ways and Means Committee heard from Americans about how The One, Big, Beautiful Bill is a needed shot in the arm for small businesses, manufacturers, and farmers. Witnesses shared how the permanence of the tax cuts included in the law – the 20 percent small business deduction, the doubled Death Tax exemption, immediate expensing for research and development (R&D), interest deductibility, and a retu...| Ways and Means
“President Trump’s executive order provides immediate relief to American workers and small businesses. By suspending the de minimis privilege that currently allows many packages valued under $800 to avoid otherwise applicable tariffs, President Trump is taking fast, decisive action to stop the flood of cheap, tariff-free imports that all too often skirt compliance with U.S. law. This follows President Trump’s suspension of de minimis shipments from China starting in May – and this lat...| Ways and Means
By Ways and Means Committee Chairman Jason Smith (MO-08)| Ways and Means
“The Fed is once again misreading the moment. It’s failure to cut interest rates is harming working families who have to bear the cost of that inaction. Biden’s 9 percent annual inflation in 2022 is a thing of the past, and inflation under President Trump’s policies reached its lowest level in four years. With economic growth surging at 3.0 percent in the second quarter, today’s GDP report leaves no doubt: the President’s agenda is delivering for working families and small busines...| Ways and Means
Las Vegas, Nevada – In front of the iconic “Welcome to Las Vegas” neon sign inside of the warehouse of that actual sign manufacturer, the Ways and Means Committee heard directly from hardworking Nevadans about how they will benefit from The One, Big, Beautiful Bill. President Trump’s new tax relief for workers and seniors – no tax on tips, no tax on overtime, and no tax on Social Security – will put more money in the pockets of those Americans who need it most. Witnesses shared h...| Ways and Means
Ways and Means Committee Chairman Jason Smith (MO-08) delivered the following opening statement at a hearing held at the Ronald Reagan Presidential Library in Simi Valley, California on how The One, Big, Beautiful Bill gives permanent tax relief to farmers, small businesses, and manufacturers. | Ways and Means
Today, Ways and Means Committee Chairman Jason Smith (MO-08) delivered the following opening statement at a field hearing in Las Vegas, Nevada on how The One, Big, Beautiful Bill benefits workers and families. | Ways and Means
“Another historic win for America’s ranchers and farmers thanks to President Trump’s leadership. To be clear, U.S. beef is and has been safe and healthy, and Australia should have acknowledged as much long ago. However, it clearly took President Trump’s unprecedented commitment to restoring fairness to America’s trade relationships to reach this result. I appreciate the cooperation by Australia to see this process through to completion and look forward to more wins for American agri...| Ways and Means
WASHINGTON, D.C. – Americans recovering from a natural disaster will receive new tax relief under bipartisan Ways and Means Committee legislation signed into law by President Trump. The Filing Relief for Natural Disasters Act, H.R. 517, removes the immediate burdens and hassle of filing taxes after a natural disaster by allowing the Treasury Department to postpone filing deadlines for Americans living in a state-declared disaster area that has not yet received a federal disaster designati...| Ways and Means
WASHINGTON, D.C. – The rapid growth of Medicare Advantage (MA) enrollment in recent years has created an opportunity for Congress to improve and enhance the program to better serve MA beneficiaries in years to come, especially in rural areas, witnesses told members of the Ways and Means Subcommittee on Health and Subcommittee on Oversight.| Ways and Means