Press Releases
CBO Confirms Biden's Agenda Will Worsen Economic Crisis Caused by Democrats’ Failed Policies
WASHINGTON, D.C. - Today, in its official re-estimate of the President’s FY23 budget - which is a blueprint for the Biden Administration’s plans for the country and the policies Washington Democrats have been pursuing for the past two years - the Congressional Budget Office confirmed that the proposed levels of spending, debt, and taxes in the President’s Budget submission will be the highest sustained levels in U.S. history, with spending increasing 62% and taxes increasing 80% over that of … Continue Reading
September 13, 2022
As Latest Consumer Price Spike Continues to Squeeze Middle-Class Families, Washington Democrats Cheer Spending that Will Drive Prices Higher
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement after the Consumer Price Index showed core inflation continuing to rise and while overall inflation has risen 13.7 percent since Joe Biden became President: “As Democrats at the White House are celebrating another massive spending bill, families are grappling with higher prices as a result of that reckless spending agenda,” said House Budget Committee Republican Leader Smith. … Continue Reading
September 12, 2022
Fact Check: Biden Brags About Deficit Reduction While Adding Nearly $10 Trillion in New Spending
When it comes to deficit reduction, the Biden White House says one thing and does another. The Biden Administration - including the President - has repeatedly claimed that he is all about reducing deficits: Meanwhile, the President has dedicated his entire tenure in office thus far to pushing massive spending increases for far-left policies such as $400 billion in welfare for wealthy environmentalists and big corporations, $500 billion slush fund to states and localities packed with … Continue Reading
September 09, 2022
Federal Government Continues to See Record Revenues from Tax Cuts & Jobs Act Despite Biden Recession
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after the Congressional Budget Office (CBO), in its monthly budget review, showed that overall tax revenue is up $822 billion or 23 percent so far this year, on pace to be $1 trillion more than CBO projected when the Republican-passed Tax Cuts and Jobs Act (TCJA) passed, and $1.7 trillion more than the pre-TCJA revenue level: “While Democrats have raised taxes on middle-class … Continue Reading
September 07, 2022
Congressional Scorekeeper Confirms Inflation Act Doubles Down on Democrats Inflationary Spending Spree
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement after the Congressional Budget Office (CBO) released its full score of the so-called “Inflation Reduction Act”, showing the law will add $60 billion in deficits over the next several years while pushing any supposed savings until later in the coming decade. “CBO has confirmed what many - including over 230 economists - have been saying about the Inflation Act: it will further … Continue Reading
September 03, 2022
IRS Exposes More Confidential Taxpayer Information as Democrats Reward Agency with $80 Billion
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after the Internal Revenue Service (IRS) admitted on Friday to posting confidential taxpayer information of 120,000 individuals on the agency’s website: “The IRS continues to singlehandedly shred its own credibility with the American taxpayer,” said House Budget Committee Republican Leader Smith. “This is the same agency that under the Biden Administration leaked taxpayer information last year for … Continue Reading
September 01, 2022
Smith Op-Ed: Biden’s Spending Spree Has Supercharged Washington’s Power Over The American People
By Rep. Jason Smith Daily Caller When huge swaths of the country were forced to shut down in response to COVID-19, Americans realized the power politicians and bureaucrats can wield to reshape society. Sadly, today there are many in government who have no interest in relinquishing that type of command and control over the lives of the American people. In fact, under President Joe Biden and one-party Democrat rule in Washington, Americans are increasingly under threat of seeing their … Continue Reading
August 31, 2022
Congress is Spending Hundreds of Billions on Zombie Programs, According to CBO
The federal government continues to spend hundreds of billions of tax dollars annually on more than a thousand government-run programs that Congress has failed to reauthorize, according to a report released today from the Congressional Budget Office (CBO). So far, Congress has failed to reauthorize 1,118 appropriations that expired before the beginning of fiscal year 2022, while spending $461 billion this year on programs that have expired authorizations. “This report confirms Congress has … Continue Reading
August 28, 2022
What They Are Saying: Biden’s Student Loan Cancellation is a Giveaway to the Wealthy, Increases Inflation, Adds Hundreds of Billions to the Taxpayers’ Tab
WASHINGTON, D.C. – The reviews for President Biden’s latest big spending scheme are in, and they are not good. Across the political spectrum, it’s clear that canceling student debt is a desperate pander to Democrats’ far-left political supporters that offers a massive financial handout to wealthy individuals, and stokes the fires of inflation. Even members of the President’s own party agree that canceling student loans … Continue Reading
August 25, 2022
CBO Confirms Inflation Act Unleashes IRS Audits and Enforcement on Families Making Less Than $400,000
A new report from the Congressional Budget Office (CBO) confirms that Democrats’ Inflation Act, which supercharges the IRS with 87,000 new agents, will lead to more audits and enforcement measures, and higher taxes for families making less than $400,000. The analysis comes in a response to House Budget Committee Republican Leader Jason Smith (MO-08) and House Ways and Means Committee Republican Leader Kevin Brady (TX-08). CBO’s analysis finds that revenues will be collected from … Continue Reading
August 24, 2022
Biden Administration Cancels Debt for Wealthy Borrowers at More Than $330 Billion Cost to American Taxpayers
In response to the Biden Administration’s announcement today that it is initiating a plan to forgive up to $20,000 in student loan debt for households earning up to $250,000, House Budget Committee Republican Leader Jason Smith (MO-08) and House Education and Labor Committee Republican Leader Virginia Foxx (NC-05) released a fact sheet detailing the more than $330 billion cost of the Administration’s plan as well as how this action will benefit wealthy borrowers and those with … Continue Reading
August 19, 2022
Smith Op-Ed: The Inflation Reduction Act Will Prolong & Make Worse Biden’s Inflation Crisis
By Rep. Jason Smith Townhall Under President Biden’s failed leadership, America is facing higher prices, rising interest rates, a labor shortage, spiraling debt, and now a recession. Family budgets are strained by inflation that has risen 13.7% since Joe Biden became President, while seniors’ retirement accounts shrink. Americans - facing higher prices and diminishing returns - are rightfully frustrated to see their concerns ignored by one-party Democrat rule in Washington. The latest … Continue Reading
August 16, 2022
Biden Cheers Handouts to the Wealthy & Big Corporations, Fueling Inflation Crisis While Slamming Middle Class with More Taxes & Audits
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement today after President Biden signed into law the so-called “Inflation Reduction Act” - a bill to raise taxes on middle-class Americans and subject them to greater IRS audits, funnel over $400 billion in taxpayer dollars to wealthy environmentalists and big corporations, while doing nothing to address today’s inflation crisis: “By signing the Inflation Act, President Biden is sealing … Continue Reading
August 12, 2022
Democrats Vote to Increase Inflation, Raise Taxes and Audits on Middle-Class Americans, & Throw Green New Deal Handouts to the Wealthy
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after House Democrats passed the Inflation Act - their plan to raise consumer prices, impose higher taxes and more IRS audits on middle-class families and businesses, and provide taxpayer-funded handouts to the wealthy and corporations: “Right now, the worst inflation crisis in a generation - sparked by $2 trillion in spending Democrats enacted last year - is stealing more and more money out of the … Continue Reading
August 12, 2022
CBO Confirms Democrats' Plan for More IRS Audits Will Hit Americans Earning Less Than $400,000
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement today after the Congressional Budget Office (CBO) confirmed this morning that a sizeable portion of the supposed savings from expanded IRS enforcement - at least $20 billion - in the Democrats’ Inflation Act will come from increased audits on Americans making less than $400,000 per year: “Democrats can try to spin the facts, but the Congressional Budget Office has confirmed that the savings Democrats … Continue Reading
August 11, 2022
Tax Scorekeeper: Democrats Inflation Act Hits Families Making Under $200,000 with $10.6 Billion Tax Hike
The Joint Committee on Taxation (JCT) has confirmed that $10.6 billion in tax increases from the Democrats’ Inflation Act will hit families making less than $200,000. JCT’s analysis looked at the distributional impact of the non-Obamacare related tax provisions, including $362 billion worth of tax increases and hundreds of billions worth of Green New Deal tax subsides. This news comes as House Democrats are preparing to vote Friday on the bill which spends $745 billion, adds … Continue Reading
August 10, 2022
FACT SHEET: The Inflation Act Adds Billions of Immediate Debt while Attacking America’s Families, Businesses, & Finances to Serve the Democrats’ Liberal Policy Agenda
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement today alongside a fact sheet exposing the various ways in which the Democrats’ Inflation Act is an unmitigated attack on American families, businesses, and the nation’s finances, all in service to a liberal policy agenda. “Democrats in the U.S. House of Representatives are lining up to vote Friday on 755 pages of legislation written, rewritten, amended, and then passed by the … Continue Reading
August 10, 2022
As Inflation Crisis Continues, Democrats Push More Spending, Taxes, and Debt
Today, House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement after the Consumer Price Index (CPI) showed inflation at a forty-year high of 8.5 percent, up 13.7 percent since President Biden took office: “Today’s report comes as Congressional Democrats are pushing a partisan $745 billion reconciliation bill that will add fuel to the inflation fire that is burning through Americans’ paychecks. Thanks to the Democrats’ reckless spending policies, … Continue Reading
August 08, 2022
As Americans Suffer in Biden’s Inflation Recession, Democrats Prioritize Hundreds of Billion for Green New Deal
The country is in a recession. American families are facing a $5,900 inflation tax this year while their real wages are down five percent. But rather than address that crisis, Washington Democrats are focusing their attention on their Green New Deal (GND) agenda which will do nothing to alleviate the pain and suffering families are facing today and will only exacerbate inflation. Over 50 percent of the new government spending in the so-called “Inflation Reduction Act” – that … Continue Reading
August 08, 2022
Smith Statement on Senate Passage of Democrats’ Inflation Act
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after Senate Democrats voted to spend hundreds of billions to increase inflation, increase taxes on the middle-class, and push the implementation of the Green New Deal on the backs of working families: “The Inflation Act will only make the current economic and inflation crisis under President Biden and one-party rule in Washington worse. It spends hundreds of billions of dollars on the Green New Deal … Continue Reading
