WASHINGTON, May 28 -- The House Ways & Means Committee Chairman issued the following news release:
WASHINGTON, D.C.- Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the release of the April reading of the Personal Consumption Expenditure (PCE) price index, showing core inflation rose 3.3 percent, and Q1 2026 gross domestic product (GDP) reading, showing GDP increased 1.6 percent on an annualized basis:
"Americans today have more money in their pockets from historic tax refunds and bigger paychecks thanks to the Working Families Tax Cuts. Working moms, farmers, and small businesses -not billionaires - were the main beneficiaries of Republican policies like No Tax on Tips, No Tax on Overtime, No ...