Dear ,

I hope you and your family are doing well! Below, please find a few updates on my work last week for the residents of Arizona’s First Congressional District.

Remembering Justice Sandra Day O'Connor

Sandra Day O’Connor led a remarkable life as our nation’s first female Supreme Court Justice. An iconic daughter of Arizona, she blazed trails for women everywhere. She was an esteemed jurist who often played a pivotal role on the Supreme Court.

I was fortunate to first meet Justice O’Connor as a teenager when she was kind enough to spend a few minutes of her time with a group of Arizona Teenage Republicans from Saguaro High School at the Arizona State Capitol as she was making her meteoric rise in state politics, leaving a lasting impression that I still hold with me to this day.

She represented the best of Arizona throughout her extraordinary life, and we are better off because of her contributions and commitment to public service. My prayers are with her family as we mourn her passing.

Congress Has a Moral Obligation to Solve Nation’s Debt Crisis

Click here or on the image above to view my remarks.

Last week, I delivered a speech on the House Floor to explain that every dime that Members of Congress vote on is now on borrowed money, and that spending on interest will eclipse $1 trillion in Fiscal Year 2024 — becoming the second largest expense in all of government. I also urged my colleagues to tell the truth about the math instead of continuing to ignore our nation’s fiscal challenges.

Chairing Ways and Means Oversight Subcommittee Hearing on Strengthening Child Support Enforcement

On Wednesday, I co-chaired a joint hearing of the Ways and Means Oversight Subcommittee and Work and Welfare Subcommittee to ensure states and tribes have the enforcement tools necessary to collect child support on behalf of children and families.

Currently, at least 42 states utilize contractors to administer their Child Support Enforcement programs and to access the Federal Tax Refund Offset Program, allowing states to garnish past-due child support payments from federal tax refunds and send them to custodial parents to help in raising their children. These crucial child support programs are one of the most cost-effective and vital programs for families, collecting nearly $5 for families for every $1 spent on administrative costs.

The IRS recently announced a change to a long-standing policy that will prohibit states from using contractors to access the Federal Tax Refund Offset program — which could impact millions of parents in those states receiving child support, starting in October 2024.

Daily Debt Monitor Text Message Sign-Up

Be sure to sign up to receive my “Daily Debt Monitor” text messages that track real-time updates of our national debt at the end of each day. Subscribing is easy — head to schweikert.house.gov and fill out the required information on the homepage of my website. 

I hope these updated numbers can provide some further insight as to why I am so adamant about reducing our outrageous government spending.

Medicare Open Enrollment Closes This Thursday

If you or a loved one are interested in enrolling in Medicare or changing which plan you’re covered under, make sure to do it by this Thursday, December 7. At Medicare.gov, you can do a side-by-side comparison of plan coverage, costs, and quality ratings to decide which plan works best for you. Call 1-800-MEDICARE (1-800-633-4227) for any questions you still need answered. 

Spring Internship Applications Due This Friday

Last call! My Washington, D.C. and Scottsdale offices are accepting applications until this Friday, December 8, for full and part-time congressional internships for the 2024 spring session. College students interested in interning in my Scottsdale office are encouraged to submit their applications to Ernestina.Borquez-Smith@mail.house.gov. For more information, please review the internships page on my website or please call my district office at (480) 946-2411.

For students interested in a 2024 spring internship in my Washington, D.C. office, please email your resume, a cover letter, and two reference letters to Katie.West@mail.house.gov. 

We look forward to reviewing your applications!

What I’m Reading & Why It Matters

It's that time of year again! Here are some helpful year-end tax tips to set yourself up for success in 2024:

• Maximize Contributions: Contribute the maximum allowed amounts to retirement accounts, like $22,500 to a 401(k) and $6,500 to traditional or Roth IRAs for 2023.
• Roth Conversions: Consider converting tax-deferred accounts (e.g., traditional IRAs, 401(k)s) to tax-free Roth IRAs, especially during market downturns.

This article emphasizes the uniqueness of individual financial situations and advises consulting with financial advisers and CPAs to tailor a tax strategy fitting your specific needs and goals.

• Maximize Retirement Contributions: Contribute the maximum to employer retirement plans, considering tax-deferred and after-tax options. Capture employer matches and contribute up to $22,500 (or $30,000 if 50 or older) in 2023.
• Plan for Tax Efficiency: Opt for tax-efficient investments like low-cost mutual funds and ETFs. Consider tax advantages of municipal bonds and strategic asset placement. Consult a financial adviser for asset location decisions.
• Maximize Charitable Giving: Explore tax-efficient charitable giving options, including qualified charitable distributions (QCDs), donating appreciated securities, and establishing donor-advised funds. Consult a financial adviser for personalized strategies.
• Make Family Gifts: Gift up to $17,000 per individual ($34,000 for couples) annually without incurring gift tax. Consider funding college savings plans or transferring wealth. Seek advice for effective implementation based on individual circumstances.

Additionally, the Secure 2.0 Act of 2022 included a number of provisions to help more Americans save for retirement. Several are already in effect, but more are slated to make an impact in 2024 and beyond. To view an updated list of retirement savings, loans, and withdrawals changes, click here.

Thank you for taking the time to read this update on my latest work in Washington, D.C. and Arizona’s First Congressional District! If you have any comments or concerns, I encourage you to reach out to my office.

Sincerely,

David Schweikert