Chairman Smith Floor Statement on Tax Day Resolution: Republicans Made Workers, Families, Farmers, and Small Businesses Our Top Priority

WASHINGTON, D.C. - Ways and Means Committee Chairman Jason Smith (MO-08) delivered the following remarks during debate on the floor of the U.S. House of Representatives on H.Res 1156, a resolution celebrating the tax relief delivered to millions of American taxpayers by the Working Families Tax Cuts.

As prepared for delivery.

"I rise today in support of H.Res. 1156 and the Working Families Tax Cuts which have led to this year's historic tax refund season.

"Today, April 15 is Tax Day. The IRS typically receives around 24 percent of their tax returns in April. And what millions of Americans are finding out today is that their tax refund is significantly larger than it's been in the past thanks to the Working Families Tax Cuts. Refunds this tax season have increased by 11 percent, with the average refund over $3,400.

"Much of that relief is thanks to the policies championed by President Trump. Over 6 million Americans have claimed no tax on tips; over 25 million claimed no tax on overtime; over 30 million taxpayers claimed the Social Security deduction; and over 1 million claimed the no tax on auto-loan interest. And who are the folks claiming these deductions? Working-class Americans, not millionaires or billionaires. Overall, nearly half of all tax filers this season claimed at least one of those key provisions.

"Under this tax relief, tipped workers get on average a $1,300 tax cut; hourly workers get on average a $1,400 tax cut from no tax on overtime; and a $12,000 deduction for a married couple on Social Security means a more secure retirement.

"When Republicans enacted the Working Families Tax Cuts, we made America's workers, families, farmers, and small businesses our top of priority.

"An inconvenient fact Democrats don't talk about is that the share of income taxes paid by the top 1 percent actually went UP from 37 percent to 40 percent. The very rich are paying a higher share of taxes today than they were before. Why? Because the other 99 percent of Americans saw their share of taxes fall from 63 percent to 60 percent.

"But don't take my word for it. Listen to the stories of everyday Americans like Raymond Huff from Colorado who testified before the Ways and Means Committee that the Working Families Tax Cuts will help him grow his small business and hire more workers. Or Nancy Overman from Nevada, who testified that she will be able to afford basic necessities without draining her retirement savings thanks to no tax on Social Security. Or Sharon Simmons, a DoorDash driver originally from my home state of Missouri, who testified to how no tax on tips will help her better afford her husband's medical treatments and travel to Missouri to see family. Or the waitress in my district who told me that she got a $10,000 tax refund thanks to no tax on tips and other provisions of the law.

"Families have more money in their pockets today thanks to a boosted and permanent child tax credit of $2,200. When you add in the permanent increase in the standard deduction - up to $31,500 - a family of four earning $73,000 had zero federal tax liability this year.

"When they controlled Washington, Democrats spent $10 trillion and created a cost-of-living crisis. Under Republican tax relief, we expanded 529 accounts to cover K-12 education expenses and trade schools; expanded health savings accounts so another 10 million Americans can better manage health care costs; and for those looking to adopt, they have more access to the Adoption Tax Credit with $5,000 of that credit refundable. And under Trump Accounts, newborn U.S. citizens in America get a $1,000 investment to start building a more secure financial future.

"Because of the Working Families Tax Cuts, Americans have more money to buy school supplies and put food on their tables; family farmers and small businesses have more certainty and resources to invest, grow, and hire. These are the results of Republican tax relief that puts America's working families first."