Taxes
A good education is foundational for a child’s future. By setting the stage for success, quality K-12 education can be a difference maker in strengthening communities and safeguarding the future of our nation. Unfortunately, many parents across America have little say over their children’s education due to socioeconomic status or a lack of options where they live. To make matters worse, challenges stemming from lack of access to quality education have been exacerbated by learning loss from COVID-era school closures.
Washington, D.C. – Today, Congressman Adrian Smith (R-NE) and Chair of the Committee on Ways and Means Jason Smith (R-MO) released the following statements following the committee’s markup and passage of Rep. Adrian Smith’s bill with Rep. Burgess Owens (R-UT) to expand education freedom and opportunity for students.
In August 2022, when President Biden signed into law the so-called Inflation Reduction Act, it included an $80 billion increase in IRS funding. According to a 2021 Treasury Department report, this funding was intended to increase the IRS workforce by 87,000 employees, primarily dedicated to increasing IRS’s capacity to audit taxpayers.
Washington, D.C. – Today, Rep. Adrian Smith (R-NE), Chairman of the House Ways and Means Committee's Trade Subcommittee, released the following statement on the announcement United States Trade Representative (USTR) Katherine Tai has requested dispute settlement consultations with Canada over Canada's new tax on digital services under the United States-Mexico-Canada Agreement (USMCA):
The remarkable character of the people of the Third District was unmistakable as I traveled around Nebraska during August. From a 102-year-old in McCook, to whom I presented a Congressional Gold Medal as one of World War II’s “Rosie the Riveters,” to the sharp and eager high school student members of my Youth Advisory Council, we are blessed with passionate citizens dedicated to service.
Washington, D.C. – Today, Congressman Adrian Smith (R-NE) released the following statement after the Treasury Inspector General for Tax Administration (TIGTA) released a new report finding the Internal Revenue Service (IRS) has not yet fully implemented a 2022 directive by Treasury Secretary Janet Yellen prohibiting the agency from using its $80 billion in stimulus funding to increase audits on taxpayers with incomes below $400,000.
According to a recent report by the Committee to Unleash Prosperity, regulations issued by the Biden-Harris Administration have cost the average American household a total of nearly $50,000. From its electric vehicle mandate—expected to increase the price of a new vehicle by more than $6,000—to restrictions on household appliances and energy production, this kind of burden on families is unsustainable.
This summer, I have been grateful for the opportunity to welcome Third District students visiting Washington to the U.S. Capitol Building. Its iconic architecture stands as an enduring reminder of American freedom and opportunity. In light of the blessings secured by our Constitution, fostering appreciation in young people for our unique system of government is essential.
Today, Rep. Adrian Smith (R-NE), released the following statement after a report from the U.S. Treasury Inspector General for Tax Administration found and the IRS subsequently confirmed it does not plan to decommission and replace the vast majority of the agency's outdated information systems.
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.