Press Releases
CBO Confirms Democrat Handout to Multiemployer Pension Plans Puts Taxpayers on the Hook for BILLIONS More
Today, Budget Committee Republican Leader Jason Smith (R-MO) and Education and Labor Committee Republican Leader Virginia Foxx (R-NC) issued the following statement after the nonpartisan Congressional Budget Office (CBO) confirmed that the Biden administration’s rule implementing Democrats’ uncapped handout to multiemployer pension plans will cost $4.5 billion more than CBO’s initial estimate: “CBO just confirmed what we’ve known all along. The price tag for Democrats’ taxpayer-funded … Continue Reading
September 26, 2022
CBO Reports $400 Billion Price Tag for Biden’s Welfare for the Wealthy Student Loan Cancelation Scheme
WASHINGTON, D.C. - President Biden’s unilateral decision to cancel up to $20,000 in student loan debt for households earning up to $250,000 will cost American taxpayers $400 billion, according to an analysis today from the Congressional Budget Office (CBO). CBO also found that the President’s decision to extend the moratorium on student loan repayments for another four months will cost American taxpayers an additional $20 billion: “President Biden’s transfer of student loan debt from the … Continue Reading
September 23, 2022
Smith Op-Ed: Thanks to Democrats, the IRS Is Coming to Your Front Door
By Rep. Jason Smith Washington Examiner Democrats in Washington just added $80 billion to the Internal Revenue Service’s (IRS) budget, supercharging and rewarding an agency that has a notorious track record of abusing its power for political purposes. Nine years ago, the Obama-Biden IRS was caught targeting conservative organizations leading up to the 2012 presidential election. People were assured the scandal would be thoroughly investigated, but the IRS was already busy destroying … Continue Reading
September 23, 2022
Smith: House Republicans’ Commitment to America Will Get America Back on Track After Reckless One-Party Democrat Rule
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after House Republicans unveiled the Commitment to America to create an economy that’s strong, a nation that's safe, a future that’s built on freedom, and a government that’s accountable: “For too long, American families have suffered one crisis after another as a result of the bad policies and reckless spending and taxes enacted by President Biden and Washington Democrats. Whether it’s an unsecure … Continue Reading
September 22, 2022
CBO Confirms Families are Falling Behind in Biden’s Economy
The Congressional Budget Office (CBO) confirmed that rising prices are destroying family budgets for Americans in every income bracket, according to a report published today. CBO notes that across the income spectrum, the Biden economy has made workers and families poorer and less financially secure, with working-class families falling the farthest behind. With America’s economy in recession, projections show that the cost of goods is expected to grow faster than income in 2022, forcing … Continue Reading
September 21, 2022
Spending-Fueled Spike in Prices and Rising Interest Rates Are a One-Two Punch to American Families
House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after the Federal Reserve raised interest rates another 0.75 percentage points - the fifth rate increase since March and the fastest pace in 40 years. So far, interest rates have risen a cumulative 300 basis points in less than 7 months, making this the largest cumulative rate hike in 15 years: “The Democrat agenda of more spending and higher taxes has been a disaster for the American people. The … Continue Reading
September 20, 2022
Smith Resolution Requesting White House Documents on Biden Stimulus Checks Sent to Illegal Immigrants, Convicted Criminals, Foreign Citizens Blocked by Ways & Means Democrats
Today, Ways and Means Committee Democrats voted unanimously to block House Budget Committee Republican Leader and Ways and Means member Jason Smith’s (MO-08) resolution of inquiry (H.Res.1246) that requires the Biden Administration to provide records and documents, including correspondence, related to the number and total dollar amount of stimulus checks from the American Rescue Plan that were sent to convicted prisoners, non-U.S. citizens living abroad, illegal immigrants, and deceased … Continue Reading
September 20, 2022
Biden Administration Put on Notice Over Its Executive Action Overreach
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) and House Appropriations Committee Republican Leader Kay Granger (TX-12) put the Biden Administration on notice today that its attempts to skirt Congressional authority through Executive Branch rulemaking is unacceptable and unconstitutional, in a letter sent to the Office of Management and Budget (OMB). Smith and Granger cite the Biden Administration’s recent attempts to impose vaccine or testing mandates through … Continue Reading
September 13, 2022
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
