Taxes
Severe inflation, stock market turbulence, and troubling workforce data have driven recent economic concerns for American families already struggling to make ends meet. Moreover, our national debt has swelled to surpass $35 trillion—$12.74 trillion higher than the total national debt before the pandemic. Over the past year alone, the debt has grown by $6.73 billion per day.
Washington, D.C. – Today, Rep. Adrian Smith (R-NE) and Rep. Chuck Edwards (R-NC) introduced the IRS Overreach Prevention Act. The legislation would prohibit the IRS from continuing or developing a successor to its in-house Direct File pilot program.
The members released the following statements:
Washington, D.C. – Today, Rep. Adrian Smith (R-NE), along with Ways and Means Committee Chairman Jason Smith (R-MO), led their Ways and Means Committee Republican colleagues in sending a letter to the Commissioner of the Internal Revenue Service Daniel Werfel.
Washington, D.C. – Rep. Congressman Adrian Smith, a senior member of the House Committee on Ways and Means released the following statement after the Internal Revenue Service announced the expansion of its Direct File program for 2025.
This week, as I visited a number of Third District communities, several major economic indicators were published, confirming what we already know: President Biden’s inflation hasn’t ended, and a radical change of direction in Washington’s fiscal policy is needed to remedy an ailing economy.
Today, Rep. Adrian Smith (R-NE), released the following statement after the Ways and Means Committee announced he will chair a team focused on promoting legislative solutions to protect rural Americans impacted by Tax Cuts and Jobs Act provisions set to expire in 2025:
As the 2024 tax deadline nears, Americans are well aware of the outsized impact the Internal Revenue Service can have on their time, attention, and pocketbooks.
The United States’ constitutional foundation of freedom and opportunity laid the pathway for our nation to become the most prosperous on the planet.
Americans are rightfully concerned about the direction of our economy. While inflation is no longer at nine percent, prices remain high, and the inflation rate remains double where it was when President Biden took office.