Taxes
Earlier this month, the United States’ credit rating was downgraded by one of the three major credit rating agencies. This troubling announcement is an indication of the serious challenges Americans continue to face as our country’s economy is in crisis, in part because of the misguided policies put forward by the Biden administration.
Washington, D.C. – Today, Reps. Adrian Smith (R-NE), John Larson (D-CT), Michelle Fischbach (R-MN), and Jimmy Panetta (D-CA) introduced the Rural Veterinary Workforce Act, legislation to help address the shortages in essential veterinary services facing rural communities.
The members released the following statements:
Businesses across our economy – both small businesses supporting communities across Nebraska and manufacturers making and selling products at home and abroad – thrive under a broad-based tax code that rewards hard work and American innovation.
Washington, D.C. – Rep. Adrian Smith (R-NE), Rep. Mike Thompson (D-CA), and Chairman Jason Smith (R-MO) released the following statements after H.R. 3801, the Employer Reporting Improvement Act, was advanced by the House Committee on Ways and Means on a 37-0 vote:
We have a debt ceiling for a reason. It is one of the federal government’s best pathways to address our nation’s very serious debt and deficit crisis. Our fiscal predicament demands we enact appropriate reforms to strengthen and grow our economy, cut wasteful spending, and reject massive tax increases.
Washington, D.C. – Rep. Adrian Smith (R-NE) released the following statement on the Fiscal Responsibility Act:
Washington, D.C. – Today, Reps. Adrian Smith (R-NE), Suzan DelBene (D-WA), Nicole Malliotakis (R-NY), and Judy Chu (D-CA) introduced a resolution calling for legislation to avoid double taxation between the U.S. and Taiwan.
2023’s first quarter economic report showed a decline in the U.S. GDP growth rate to 1.1 percent, making clear the lasting impact severe inflation has had on our economy. The damage done by reckless and wasteful spending emphasizes the importance of fiscal responsibility and pro-growth policies.
Washington, D.C. – Today, Reps. Adrian Smith (R-NE), Joe Morelle (D-NY), Kevin Hern (R-OK), and Brad Schneider (D-IL) introduced bipartisan legislation to promote investments in America's manufacturing sector and other capital-intensive industries. The American Investment in Manufacturing Act would amend the U.S.
Americans everywhere are still struggling under record inflation. The March Consumer Price Index, a key inflation indicator, showed a five percent inflation rate, with overall food prices up 8.5 percent over March of last year. Since 2021, Americans’ wages have declined 3.7 percent, which partially explains why workforce participation rates are so low at 62.6 percent.