House Ways and Means Committee Chairman Jason Smith (R-MO) underscored the importance of House Republicans providing tax relief to voters soon, stressing that they need it following former President Joe Biden’s four years of leadership.
Smith’s assessment comes as the timeline for a tax and domestic policy bill is now in question, as Republicans previously pushed to have a House bill by Memorial Day and a signature by President Donald Trump no later than July 4. The Missouri lawmaker acknowledged that there are “some bumps in the road” within the House due to its small majority, but he insisted House Republicans would accomplish their mission in providing tax relief.
“Will it be bumpy, Shannon? It absolutely is,” Smith stated on Fox News’s Fox News Sunday with Shannon Bream. “This is the House of Representatives, but will we get the job done? We absolutely will. Failure’s not an option. If we don’t, Shannon, every single American will face, on average, a 22% tax increase. This is the last thing that they need after the last four years of the Biden administration, where they have an inflation tax of almost 21% that resulted in the cost to put food on their table, clothes on their backs, and gasoline in their cars to only go up.”
Smith was pressed on whether the House can get the first portion of this bill passed by Memorial Day. In response, he stated that his goal is for Trump to sign his “one big, beautiful bill” by July 4.
CONGRESS MUST TAKE A STAND ON THE DEATH TAX
Earlier this week, Smith warned that not passing the proposed budget reconciliation by Republicans in the House could result in “the largest tax increase in the history of America.”
On Friday, Sen. Bill Cassidy (R-LA) hinted that this policy bill could reach Trump’s desk sometime in August, past the July 4 deadline many Republicans have been advocating. The senator suggested that policy ought to be prioritized over timelines, as he is focused on “making this economy a better economy for average and working Americans.”