Chairman Jason Smith issued a statement celebrating the third quarter’s 4.3% GDP growth, calling it a sign that Republican-led tax reforms are fueling economic recovery. He credited the Working Families Tax Cuts, signed into law earlier in 2025, with boosting wages, increasing refunds, and encouraging small business investment.
The press release outlines projected impacts of the tax package, including $91 billion in additional tax refunds, a $7,200 increase in annual real wages per worker, and the creation of over 7 million jobs. It also highlights provisions such as 100% expensing for manufacturing structures, expanded child tax credits, and new deductions for seniors and tipped workers.
While the statement frames the tax cuts as a driver of economic growth, it does not cite independent evaluations or formal scoring from the Congressional Budget Office. The projections are presented as estimates from committee Republicans and are not accompanied by underlying methodology or third-party validation.