National Debt Eclipses $30 Trillion & Inflation Remains High 

It’s an unfathomable amount, but our national debt has now eclipsed $30 trillion. There’s no denying that this puts an unbelievable burden on future generations. Congress simply cannot wait and must take action to get America’s fiscal house in order. Using their one-party rule in Washington, President Biden and Congressional Democrats have enacted or proposed spending trillions of dollars last year, but we don’t know what’s in store for this year.

On Monday, President Biden missed the statutory deadline to submit an annual budget to Congress. Will his eventual budget acknowledge the impact of his spending policies on 40-year high inflation or address our nation’s $30 trillion in debt? I joined my Republican colleagues on the House Budget Committee in asking for answers from the Biden administration. Read our letter here.

I believe that the policies advanced by President Biden and Speaker Pelosi will only take our country deeper and deeper into debt and exacerbate our already high levels of inflation. Earlier this week the Bureau of Labor Statistics reported the consumer price index, a key measure of inflation, was up 7.5 percent compared to last year. This is the highest level of inflation seen in 40 years. Inflation is taxation and it’s simply crushing families’ budgets. The Wall Street Journal reported that the average American household is paying $276 more per month for goods, thanks to inflation.

Addressing the IRS’s Backlog & Information for this Tax Season 

Earlier this week I joined a hearing of the Ways & Means Oversight Subcommittee to ask questions of National Taxpayer Advocate Erin Collins. I greatly appreciate the work of the staff of the IRS and the Taxpayer Advocate Service, unfortunately though their primary job isn’t getting done. There’s a backlog of 5.6 million returns from the 2020 tax year that have yet to be processed.

My office hears from hundreds of frustrated taxpayers each month. The fact is the IRS’s long-term technological issues and lack of customer (taxpayer) service must be fixed. You can listen to my questions and comments from the hearing by clicking the image below.

This year’s tax season is underway, with a filing deadline of April 18, 2022. Be sure to visit the IRS’s website and the links below for helpful information about filing taxes this year. If you did not receive an Economic Impact Payment this year, which you believe you are eligible for, click here to learn more about claiming the Recovery Rebate Credit.

If you received advanced payments of the Advanced Child Care Tax Credit, click here to learn how to reconcile your advanced child care tax credit payments on this year’s tax filing. Familiarize yourself with the IRS’s online tools to help you find important information and read the IRS’s FAQs on expected processing times and refunds.  

Looking for IRS forms? Visit their Forms, Instructions, & Publications Page by clicking here.
Looking for free assistance with preparing your tax return? Visit the IRS website to find an organization that can assist you.

Helping the American Economy Compete

Last week, the House considered legislation, the so-called “America Competes Act” and I voted against the measure. 

Earlier this year, the Senate produced a rare bipartisan bill to help protect and bolster our nation’s technological research and semiconductor manufacturing capacity, which is critical to our long-term national security, but that’s not what the House considered. 

Instead, House Democrats are trying to hide as much of their unpopular agenda as they can in this bill under the guise of helping our nation compete in the global marketplace with nations like China.

The bill was a rushed, unfocused, and purely partisan piece of legislation. On policy, it’s a grab bag of President Biden’s Green New Deal, “Build Back Bankrupt” initiatives, and policies totally unrelated to our nation’s global competitiveness. What does coral reef conservation have in common with semiconductor manufacturing? Nothing, but in Speaker Pelosi’s House these shenanigans are commonplace. Legislation to assist with coral reef conservation, a laudable goal, should be considered on its own merits separate from this bill.

Keeping in line with House Democrats’ routine, this legislation includes massive giveaways to labor unions. It also would constrain America’s workforce pipeline by eliminating innovative industry-recognized apprenticeship programs. 

The bill did not receive a score from the Congressional Budget Office, so we don’t even know what the impact of the bill would be on our deficit, or national debt. And at a time when the debt has eclipsed $30 trillion, I simply could not support this bill.

Read my full statement about the legislation here.

Upcoming Academy Night 

Later this month, my office will be hosting an Academy Night event for students interested in learning more about applying or attending one of our nation’s military academies. The event will be held at Penn Manor High School in Millersville on February 25, 2022. Visit my website for complete details on the event!

Introducing the MUSIC Act 

This week I was joined by Rep. Troy Carter of Louisiana in introducing the MUSIC Act, which will aid entertainment companies and workers who were ineligible to apply for federal COVID relief programs. Our bipartisan legislation would not spend any additional taxpayer dollars, but would utilize leftover funds from the Shuttered Venue Operators Grant program to provide assistance to these impacted businesses.

Lancaster County is home to several live events companies that play a critical role in fabricating and producing entertainment experiences for artists and theaters nationwide. These companies employ hundreds of hardworking, talented Pennsylvanians. As the pandemic pressed pause on many live events, service and support companies have struggled to stay in business. Without live events, thousands of workers have no work. The SOS Act provided a lifeline to venue operators but failed to include the companies that serve as the backbone to event production.

The SVOG program has billions in leftover funding that could help preserve service and support companies while keeping thousands employed in good-paying jobs. Passing the MUSIC Act is a commonsense bipartisan fix to support an industry that is currently on life support and does not spend any additional taxpayer dollars. Senators Marsha Blackburn and Catherine Cortez Masto have introduced similar legislation in the United States Senate.

Read more about the legislation here.

President Lincoln's Birthday

On February 12, 1809 President Abraham Lincoln was born. Learn more about our nation’s sixteenth president and the history behind Presidents Day from the Library of Congress by clicking here.

Here to Help

To any veteran, there is always support available at the Veterans Crisis Line. Call 1-800-273-8255 and Press 1 or text 838255. Visit the Veterans Crisis Line website for more information.

Looking for information on federal grants? Learn more about the grant awarding process and search the federal database of grant programs at www.grants.gov.

If you have any questions or issues with a federal agency, please know that my office is here to assist you. You can call my district or Washington, DC offices for assistance or visit my website for any issue with a federal agency or department.

Stay Connected

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Sincerely,

Lloyd Smucker