ICYMI: Rep. Kustoff to Newsmax: GOP Tax Package Will Help Americans

Legislation already passed by Republicans in Congress and signed by President Donald Trump will help Americans deal with the rising inflation and prices that began during the Biden administration, Rep. David Kustoff told Newsmax on Thursday.

Appearing on "Wake Up America Early," the Tennessee Republican and member of the powerful House Ways and Means Committee said Trump entered office facing the fallout of Democrats' big-government spending spree.

"We saw the highest inflation that we've seen in 40 years in the Biden administration," Kustoff said, tying the spike directly to Democrats' control of the White House and both chambers of Congress.He blamed "trillions of dollars in brand-new money" pumped into the economy, saying it "couldn't do anything but cause inflation."

Kustoff argued that in just 11 months, Trump has been rolling back the damage by focusing on affordability, particularly on energy.

Americans filling up their cars, he noted, are now "seeing the lowest gas prices that we've seen in four years," a sharp contrast to the pain at the pump under former President Joe Biden.

The congressman pointed to a major Trump-backed tax package, crafted in part in the Ways and Means Committee, as a key tool to relieve price pressures on families.

The "one big, beautiful bill," he said, will cut taxes across the board next year by eliminating taxes on tips and overtime pay, permanently lowering tax brackets, and doubling the standard deduction.

"That's going to create more money that they earned, hard-earned money that they get to keep," Kustoff said, arguing Americans will have greater freedom to spend and invest as they choose.

Kustoff said voters in his western Tennessee district are already feeling the difference between Biden's economy and Trump's.

Energy prices and grocery costs have eased from Biden-era highs, the stock market is stronger, and 401(k) balances are growing again, he said.

Store shelves are "plentiful," and Trump's aggressive push on trade — including tariffs and new negotiations — is helping manufacturers and farmers at home by lowering unfair barriers abroad.

Kustoff also weighed in on the looming fight over expiring Obamacare subsidies, which Biden and Democrats expanded early in his term.

He criticized the enhanced subsidies as poorly targeted and said some higher-income Americans are receiving benefits they shouldn't.

Republicans, he noted, favor a plan that would empower people to use health savings accounts, while Democrats want to lock in the current subsidy structure for years.

Kustoff said Democrats wasted precious time by forcing a government shutdown on Oct. 1, arguing Congress would have had "more runway" to tackle the issue if not for that partisan brinkmanship.