Rep. Jason Smith, R-Mo., chair of the House Ways and Means Committee, told Newsmax on Monday that President Joe Biden's proposed $7.3 trillion budget for the 2025 fiscal year includes staggering tax increases for every American.
"His budget that he released today is the largest tax increase in the history of our country," Smith told "The Record With Greta Van Susteren." "Almost $5 trillion in new taxes, and that's not even counting his proposal that he wants all of the 2017 Trump tax cuts to expire, as well."
Smith said Biden's budget includes an additional $104 billion for the IRS so it can audit more taxpayers. He said Americans don't want to see a larger IRS but a simpler tax code.
"This is the wrong recipe for America," Smith said. "I would love to have a revamped tax code that is simpler, flatter, and fair. That's exactly what we're going to strive for in 2025, when we're seeing all these Trump tax cuts that are expiring, and hopefully, we'll be able to move in that direction.
"This is what you hear from average American small businesses, family farmers. They're always worried about the IRS. They do everything that they think is appropriate and right when they're filling out their taxes, But they're also paying someone to do their taxes, and they just hope that they're never audited. We need a tax code that basically would make it where you wouldn't need an accountant or CPA. You could just fill it out on a postcard."
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Michael Katz ✉
Michael Katz is a Newsmax reporter with more than 30 years of experience reporting and editing on news, culture, and politics.
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