Smith on July Jobs Report: Private Sector Keeps Adding Jobs Thanks to the Working Families Tax Cuts
WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after the Bureau of Labor Statistics released its July jobs report:
“Republicans are focused on making life affordable again for working families, like the waitresses, welders, seniors, factory workers, and moms and dads throughout the country. Despite the dip in July payrolls, the employment market remains strong and will get stronger as businesses benefit from the long-term tax certainty provided to them in the One, Big, Beautiful Bill. Private-sector employers kept adding jobs last month, and unemployment remains near historic lows at 4.1 percent. In addition to the certainty provided to small businesses, workers are keeping more of every paycheck they earn, with policies like No Tax on Tips, No Tax on Overtime, No Tax on Social Security, a bigger standard deduction, and a larger Child Tax Credit. Republicans in Congress will continue to focus on policies that deliver affordability to American workers and families.”
Key Facts:
- Private Sector Adds Jobs: Private employers added 30,000 jobs in July, with health care continuing its upward trend.
- Unemployment Remains Near Historic Lows: The jobless rate fell to 4.1 percent in July.
- Working Families Tax Cuts Boost Economic Growth: The Congressional Budget Office projects the Working Families Tax Cuts will boost both real GDP and private investment as well as lower unemployment.
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