Jason Smith Cites CPI as Costs Remain High

Ways and Means Committee Chairman Jason Smith issued a statement Oct. 14 following the Bureau of Labor Statistics’ Consumer Price Index report for September 2026, which put core inflation at 2.6 percent.

Smith said household costs remain a central concern for working families. “Every family that has stood at the gas pump or in the grocery line knows prices are still too high,” he said.

Smith Links Prices to Democratic Spending

Smith attributed the continuing cost-of-living pressure to policies enacted while Democrats controlled the White House, House, and Senate. He said Joe Biden and congressional Democrats were responsible for $10 trillion in spending.

The chairman said Republicans are pursuing an economic agenda centered on higher wages, lower taxes, and lower living costs. He pointed to the passage of the Working Families Tax Cuts.

Tax Relief Measures

Smith cited several provisions he said were designed to preserve more of workers’ earnings. No Tax on Tips protects gratuities from taxation, while No Tax on Overtime applies to compensation for extra work hours. He also cited a provision allowing a deduction for car-loan interest.

Smith said no Democrats supported the tax-relief measures and said Democrats want to repeal them.

“Republicans are focused on bringing down the cost of living so every family can build a better life,” Smith said.