It is “just bogus math” when people use the “fake accounting” from the Congressional Budget Office to claim that extending the current tax law will add trillions of dollars to the national deficit, Rep. Jason Smith told Newsmax.
The “big beautiful bill,” passed by the House, not only delivers on President Donald Trump’s campaign priorities, but it will bring the “largest mandatory spending cuts” in U.S. history by shaving off $1.69 trillion, the Missouri Republican told “National Report” on Wednesday.
Smith added that the bill repeals more than $500 billion of the “green new tax scam,” including $200 billion in electric vehicle credits.
“We also have the most significant welfare reforms in U.S. history, all within this bill,” Smith said. “This is a very conservative bill.”
He also pointed out, in response to complaints by former DOGE adviser Elon Musk, that by cutting $1.69 trillion in mandatory spending, “that is 300% to 400% more than what has ever been cut in the history of America.”
“DOGE did some really great work over the last four to five months,” he said. “They’ve cut about $175 billion. Our one beautiful bill cuts $1.69 trillion. That’s a big difference.”
But if the Senate doesn’t pass the bill, “Americans will face the largest tax increase in the history of America,” said Smith.
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