WASHINGTON, D.C. – American families, farmers, workers, and small businesses will soon see a massive surge in economic growth, wage gains, and higher incomes thanks to President Trump’s One, Big, Beautiful Bill which passed the U.S. House of Representatives today and now heads to the Senate for consideration. | Ways and Means
A new study from the Council of Economic Advisers (CEA) confirms what working families and small business owners have long known: the 2017 Trump tax cuts delivered results, and Congress must act to make them permanent. In response to CEA’s analysis, House Ways and Means Chairman Jason Smith (MO-08) stressed the urgency for Congress to act now to lock in the pro-growth policies of President Trump’s successful tax cuts:| waysandmeans.house.gov
“Congress must pass one, big, beautiful bill to turn President Trump’s mandate into a reality to help families fed up with inflation.” | Ways and Means
“Congress must work quickly to provide Main Street job creators with the confidence they need to borrow capital, invest in their communities, and hire American workers.”| Ways and Means
WASHINGTON, D.C. – Not only did the 2017 Trump tax cuts lower the tax burden on workers, families, farmers, and small businesses, it also simplified the U.S. tax code for millions of Americans, while sharpening America’s competitive advantage. If Congress allows the Trump tax cuts to expire, over 7 million taxpayers – especially small business owners – would be hurt by the return of the alternative minimum tax (AMT).| Ways and Means
WASHINGTON, D.C. – For the past four years, working families have been paying an inflation tax of over 20 percent thanks to the Washington Democrats’ trillions of dollars spending spree. If the 2017 Trump tax cuts are not extended, those same families will see another massive tax increase. In fact, the average American taxpayer will see a 22 percent increase in their tax burden. For a family of four making just over 80,000, that’s an additional $1,695 that will be taken out of their p...| Ways and Means
Two million family farmers would see their Death Tax exemption slashed in half.| Ways and Means
WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement to mark the seventh anniversary of President Trump signing the successful Tax Cuts and Jobs Act (TCJA) into law:| Ways and Means
WASHINGTON, D.C. – Small businesses drive America’s economy, generating jobs and economic growth in communities big and small all across the country. The 2017 Trump tax cuts invested in this engine of economic growth by providing a 20 percent small business tax deduction – otherwise known as Section 199A – which helped ensure shops lining Main Streets across the nation could compete with larger companies and empowered job creators by giving them the resources to invest in their busin...| Ways and Means