Rep. Jason Smith warned that Democratic spending will lead to tax increases as several tax proposals are set to expire within the next two years.
He highlighted potential tax increases and reductions in benefits if President Biden’s budget proposals are implemented.
“In less than 24 months, you’ll see expirations of numerous tax proposals,” Smith said. (Trending: Biden’s Mental Decline Getting Even Worse)
Karine Jean-Pierre is still blaming Biden’s economy on Donald Trump pic.twitter.com/6AD3cgrLfy
— AnalyzingAmerica (@AnalyzAmerica) November 28, 2023
“In fact, every individual rate will increase. The child tax credit will be cut in half. The standard deduction will be cut in half, and the small business deduction will be eliminated if President Biden has his way.”
“In his budget proposals, he’s outlined that he wants more than $3.5 trillion in tax increases on all Americans.”
Smith also discussed the House’s investigation into the Biden family’s connection with China and expressed concern about the administration’s approach to holding China accountable.
“You could go line by line of numerous things that this administration is not holding China accountable, and it gives you a reason why is he not holding them accountable,” Smith added.
Additionally, Assistant U.S. Attorney Lesley Wolf was subpoenaed by the House Judiciary Committee in relation to investigations into Hunter Biden.
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