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Rep. Roger Williams: tax cuts have "put more money in the hands" of Americans, cites 53 million using new deductions
Summary
Rep. Roger Williams, chair of the House Committee on Small Business, said in a live interview that recently passed tax measures have put money back in households' pockets, citing a Treasury Department figure that 53 million Americans have used at least one of the new deductions; he also said reduced regulation has eased lending by community banks and predicted pump prices will fall this summer.
Rep. Roger Williams, chair of the House Committee on Small Business, said in a live interview that tax cuts passed by Congress and signed by the president "have put more money in the hands" of Americans and are helping businesses keep workers employed.
Why it matters: Williams said the measures — discussed at a committee hearing he held earlier in the day on the Working Families Tax Cuts Act — are intended to raise household disposable income and spur consumer spending and small-business hiring. The host cited an on-screen Treasury Department figure that 53 million Americans have used at least one of the new deductions.
Williams said the benefits are already visible in local stories, recounting an encounter in Fort Worth in which a woman thanked him that the change removing tax on tips let her "send my daughter to cheerleading school." He added that lawmakers still need to "sell" the package so voters understand the gains ahead of the midterm elections.
On regulation and small-lender access, Williams said recent regulatory rollbacks have reduced paperwork for community banks, allowing them to make loans they previously would not have extended and improving small-business access to payroll and working-capital loans. "Community banks, for example, have been relieved of so much paperwork," he said.
The interview moved to energy costs when the host asked whether higher gasoline prices could offset the value of tax refunds for some households. Williams responded that current pump prices remain "less than we paid with Biden," and he predicted prices would come down this summer, linking that expectation to recent U.S. actions he characterized as successful in Iran.
What the record shows: the interview records assertions by Williams about the benefits of the tax changes and a Treasury Department figure shown on-screen; the program did not present independent verification of the Treasury figure during the segment. There were no formal votes or motions recorded in this interview.
The interview ended with Williams reiterating that, in his view, lower regulation, low unemployment and the recently enacted tax measures together create an economic environment for more consumer spending and small-business investment.
