Jason Smith: Republican tax policy delivering for American workers

(From Eighth District Congressman Jason Smith)

This tax season is set to be the biggest refund season in American history, and it’s not by coincidence. It’s the direct result of Republicans delivering for the American people who sent us to Washington. The Working Families Tax Cuts, which I was proud to author and spearhead in Congress, is a historic achievement that puts more money where it belongs: in the pockets of hardworking Americans.

According to new IRS data, the total amount refunded and the average refund amount have increased by more than 10 percent over the same time last year. And according to IRS CEO Frank Bisignano’s testimony earlier in March, that increase is only expected to grow as we get closer to April 15. This tax refund season, Americans are set to receive nearly $400 billion in tax refunds, which will make it easier to afford gas in their cars, clothes on their backs, and food on their tables.

When I became chairman of the House Ways and Means Committee, I made it clear that my priority would never be the big business or special interests here in Washington – it would be the working families, small businesses and farmers who are my friends and neighbors. The median household income in the 8th Congressional District of Missouri is $59,897, according to the U.S. Census. But thanks to the policy changes we made in the Working Families Tax Cuts, an average family of four making $73,000 will now not owe any federal income taxes. That’s huge for Missouri families.

What’s particularly meaningful is that of all tax returns filed so far, nearly half of all tax filers have taken advantage of at least one of the newly created tax provisions created in the Working Families Tax Cuts: No Tax on Tips, No Tax on Overtime, No Tax on Social Security, the Auto Loan Interest Deduction, or Trump Accounts. That’s huge, because it means we succeeded in delivering relief that will impact working families, farmers, and small businesses.

The data from this tax season tells an important story, but the stories I’m hearing from families back home tell an even more powerful one. At the end of the day, working people shouldn’t be left behind or punished for going the extra mile. With the Working Families Tax Cuts, they are finally getting the relief they deserve. 

As I was traveling through the district earlier this month, a man approached me to share the story of his daughter, who was a waitress and hardworking mom in Fredericktown, Missouri. Thanks to the No Tax on Tips and expanded Child Tax Credit included in the Working Families Tax Cuts, her tax refund this year was more than $10,000. As he told me, that’s enough to cover her rent for the entire year and some groceries on top of that. When I hear stories like hers, it stuns me even more that every Democrat in Congress voted against these pro-family provisions.

We are still weeks away from April 15, but the numbers we are seeing from the IRS have confirmed that Republicans’ pro-worker tax policy is having a positive impact on millions of people, and this is exactly what happens when you prioritize everyday Americans over Washington elites and lobbyists. I came to Washington to deliver for Southeast and south central Missouri. They want the opportunity to get ahead, not just get by. That opportunity is exactly what Republicans are delivering.