Jason Smith: What will the House do after America turns 250

Summary

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Brian Kilmeade Show – Episode Summary

Guest: Rep. Jason Smith, Chairman of House Ways and Means
Theme: America's 250th Birthday, Political Polarization, Economic Policy
Date: July 3, 2026

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Episode Overview

The episode, airing on the eve of America’s 250th birthday, features Rep. Jason Smith (R-MO), chairman of the powerful House Ways and Means Committee. Host Brian Kilmeade leads a discussion centered around the shifting dynamics in the Democratic Party, the threat of socialism, anti-Semitism, foreign influence in American politics, economic relief measures shepherded by Smith’s committee, internal Congressional struggles, and the symbolism of America’s semiquincentennial. The episode closes with a brief foray into the president’s finances and crypto investments.

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Key Discussion Points & Insights

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1. Democratic Party, Socialism, and Internal Divisions

• The Leftward Drift:
  Smith expresses concern about socialism gaining influence within the Democratic Party, seeing it as a significant shift over recent electoral cycles.
  • “It’s been gradually moving towards socialism every election cycle with more socialists within the Democrat Party getting elected. And now it's...frighteningly like that.” (Jason Smith, 00:32)
• Energized Wings:
  Kilmeade plays a Donny Deutsch soundbite highlighting worries about the Democratic Party’s focus on anti-Semitism and socialism rather than mainstream affordability issues.
  • “[Democrats are] focused on anti Semitism and socialism…that’s where the energy in the party is.” (Donny Deutsch, 01:19)
• Electorate Worries:
  Smith argues it's even more concerning that these candidates are being successfully elected, reflecting a worrying shift among voters.

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2. Anti-Semitism, Foreign Influence, and Nonprofit Funding

• Anti-Semitism on Both Sides:
  Both Kilmeade and Smith bemoan a rise in anti-Israel sentiment, noting instances on both sides of the aisle.
• Foreign Money in Protests:
  Smith claims that the Ways and Means Committee's investigations have uncovered foreign (especially Chinese) money funneled through nonprofits to fuel unrest, protests, and anti-Semitic rhetoric.
  • “We've been seeing a lot of Chinese money, Brian, that's been coming into 501 fees that have been help organizing these protests...” (Jason Smith, 03:05)
• People’s Forum Probe:
  Smith calls for revoking the tax-exempt status of ‘The People’s Forum,’ citing evidence of funding terrorism.
• Legal Ramifications:
  Political donations from foreign sources to nonprofits involved in elections are described as direct violations of U.S. law.

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3. Economic Policy and Tax Relief

• Legislative Milestone:
  Smith emphasizes the economic relief measures his committee delivered last year, positioning Republicans as defenders of working class relief versus Democrats’ alleged tax-raising agenda.
  • “We not only prevented the largest tax...increase in US history, we created an additional tax cut: no tax on tips, no tax on overtime, no tax on Social Security, increase in the child tax credit...” (Jason Smith, 04:19)
• Real-Life Impact:
  Smith shares memorable constituent stories:
  • “I did my taxes. I got a refund of over $10,000. This was a single mom waitress…Because of this refund, I will be able to pay for my rent for a year, plus some groceries.” (Constituent recounted by Smith, 05:00)
  • “I had a waiter in Las Vegas that told me because of the no tax on tips, they will be able to afford their utilities for a year.” (Smith, 05:40)
• Affordability vs. Social Rhetoric:
  The premise that “socialists” claim the working class is being shafted is rebuffed by Smith, who cites these tax changes as real benefits.

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4. Congressional Gridlock & Intra-House Frustrations

• House Session Breakdown:
  Kilmeade criticizes Congress for appearing to do little, going home rather than pushing forward on issues.
• Committee Work Continues:
  Smith explains the Ways and Means Committee continued to meet and pass bills despite the House floor disbanding, expressing disappointment in overall House leadership.
  • “I am very disappointed with how the House floor has been running...I’m not going to stop working.” (Smith, 06:59)

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5. Housing Reform, Senate Dynamics, and the Filibuster

• Housing Bill Prospects:
  Smith supports the bipartisan housing bill, expecting it to eventually become law.
• Senate (In-)Action:
  Smith and Kilmeade explore why key bills—including the Save America Act—are stalling in the Senate despite Republican majorities.
• Filibuster Frustration:
  Smith explains the challenge posed by the 60-vote filibuster in the Senate, which blocks progress even when one party controls the chamber.
  • “Republicans control the White House, they control the Senate, and they control the House. Why can't they control everything? And it’s because of the filibuster, the 60 vote rule over there.” (Smith, 08:46)
• Government Shutdown Threat:
  Smith is alarmed that Democrats are threatening to force a government shutdown and suggests modifying the filibuster so any lapse in government funding could be closed with a simple majority.
  • “There should not be a lapse of government going into the election.” (Smith, 09:43)
  • “They should pass a rule amending the filibuster saying that if there's a lapse of government funding, it only takes a simple majority vote…” (Smith, 10:12)

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6. America’s 250th: Meaning and Optimism

• Reflections on the Semiquincentennial:
  Smith offers a patriotic perspective, emphasizing the core American values of freedom and opportunity.
  • “It’s all about freedom and opportunity, Brian. It’s exactly what our country was founded on 250 years ago and it’s what it stands for today." (Smith, 10:40)
• National Pride:
  Smith expresses pride in the U.S., referencing the contemporary World Cup and the success of the U.S. soccer team’s captain from his home state, Missouri.

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7. The President’s Finances and Crypto Wealth

• Crypto Disclosures:
  Kilmeade brings up recent media scrutiny of the president’s financial disclosures, focusing on notable gains in crypto investments.
  • “The amount of money that you and the family made in crypto, it was an outsized number.” (CNBC anchor, 11:39)
• Smith’s Defense:
  Smith argues that the president’s crypto investments predated his time in office and that many Americans—especially those invested in the market—have benefited.
  • “The President was involved in crypto before he was ever president...Anyone who's been involved in crypto...they're benefiting, they're doing quite well.” (Smith, 12:07)

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Notable Quotes & Memorable Moments

• “It’s been gradually moving towards socialism every election cycle…now it’s starting to get frighteningly like that.” (Jason Smith, 00:32)
• “Anti Semitism has been astonishing...foreign money…helping fuel this anti Semitism rhetoric.” (Smith, 01:45, 03:05)
• “We not only prevented the largest tax...increase in US history, we created an additional tax cut…” (Smith, 04:19)
• “I did my taxes. I got a refund of over $10,000...Because of this refund, I will be able to pay for my rent for a year, plus some groceries.” (Constituent, via Smith, 05:00)
• “I am very disappointed with how the House floor has been running. And guess what? When the floor disbanded on Tuesday, the Ways and Means Committee followed through…” (Smith, 06:59)
• “Republicans control the White House, they control the Senate...and it’s because of the filibuster, the 60 vote rule…” (Smith, 08:46)
• “It’s all about freedom and opportunity...It’s great to be an American.” (Smith, 10:40)
• “The President was involved in crypto before he was ever president...they're benefiting, they're doing quite well.” (Smith, 12:07)

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Timestamps for Key Segments

• 00:07 – Show opens, July 4th/250th framing, guest welcome
• 00:32 – Smith on the Democratic Party and socialism
• 01:19 – Donny Deutsch clip, internal Democratic concerns
• 03:05 – Foreign influence, nonprofit investigations (People’s Forum)
• 04:19 – Tax reform and constituent stories
• 06:52 – Congressional gridlock and Ways and Means bills
• 07:50 – Housing bill discussion, Senate gridlock analysis
• 08:46 – Filibuster, threat of government shutdown
• 10:40 – Reflections on America’s 250th
• 11:39 – Presidential finances and crypto discussion
• 12:33 – Closing remarks

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Tone & Style Notes

The conversation retains a distinctly conservative, patriotic, and at times combative tone, particularly around party politics, legislative gridlock, and American identity. Smith presents himself as resolutely solution-oriented, critical of Democratic positions and hopeful for bipartisan progress on certain fronts, especially tax and housing relief.

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Summary Conclusion

This episode offers a GOP insider’s perspective on the House’s current legislative priorities and frustrations, the ideological drift and internal rifts among Democrats, the real-world impacts of recent tax changes, and distinct anxieties over the future of U.S. governance. Symbolically, the conversation links the nation’s historic 250th birthday to ongoing struggles over the country’s political direction and core values.

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Transcript

[A]

Let's welcome in Chairman Jason Smith, chairman of Ways and Means, the congressman from Missouri. Congressman, welcome back, Brian.

[B]

It's great to be with you. Happy, happy 4th of July and 250th.

[A]

Absolutely. And on 4th of July, it looks like the Democratic Party is losing its battle with socialism. How is it, you know, Ro Khanna, if I was to tell you four years ago that this guy would be pro socialist, taking on capitalists, you go, Brian. Well, he's a Democrat, but he doesn't mean that you have the, you, you know, you have the purse strings for the country. What's he talking about? What's he doing?

[B]

You know, it's what's happening in the House of Representatives and the United States Senate in Washington. It's, it's been gradually moving towards socialism every election cycle with more socialists within the Democrat Party getting elected. And now it's, it's starting to get frighteningly like that. They're, they're what controls the Democrat Party. And what's even scarier, Brian, is that it's not the candidates, it's who's electing the candidates. And if in fact these people are true socialists, that should alarm and concern everyone.

[A]

So here is Donny Deutch, a Democrat, a liberal on the party that he doesn't recognize. Cut 49.

[C]

Democrats are going off the rails. They're not even focused. What matters to people is affordability. And Democrats right now are focused on two things. They're focused on anti Semitism and socialism. Not all Democrats, not all, but that's where the energy in the party is. When you look at the two candidates that got elected in the last week, it's insane. And the Republicans are going to tar them with this, you would think.

[A]

But now I think there's a lot of people who are just anti Israel on both sides of the aisle. And I don't get it.

[B]

You know, there's, I don't get it either, Brian. There's, it's unfortunate what's going on within the Democrat Party that you see, to begin with, of the anti Semitism. Anti Semitism has been astonishing. But I'll tell you, the Republicans who are anti Israel, like I can't comprehend and understand what's moving them. What I will say is some of the investigations that we've been doing in the Ways and Means Committee with these non profits, the 5013 and C4, we've seen this money come in from outside forces outside of the United States, billionaires who want to create unrest and chaos. And I'm talking about billionaires outside of the United States is bringing in that's helping fuel this anti Semitism rhetoric. And also just the protest and the unrest. It's quite disturbing.

[A]

Yeah. So you're talking about, you're talking about the, you're talking about to finding out who's funding DSA and you're trying to find out who's, who's bringing in money on the blue side of the aisle. And have you gotten anywhere specifically? Because that's a violation of the law.

[B]

Yeah. You know, especially whenever non for profits get involved in elections that's a violation of law when it's foreign money and that's what we've been tracking and we've been seeing a lot of Chinese money Brian, that's been coming into 501 fees that have been help organizing these protests. Whether it was the ICE protest in Los Angeles, whether it was the protest and unrest in Minnesota, whether it was the anti Semitism protest on college campuses. They've all had the common, common theme of a lot of different groups. Whether it's the People's Forum which we have been investigating very aggressively. In fact I have called for the administration to pull their tax exempt status because we have, we have discovered where they've actually been funding terrorist activities. So these are things that we have to be full throttled on and making sure we stop, prevent and root out of the current system.

[A]

So what these socialists are trying to say is the working class getting the shaft and the successful have been too rich for too long essentially. What is your message as the ultimate capitalist in the country?

[B]

Well look at what we've been working on just the last year and a half to make sure that all Americans don't face a 21% tax increase. Tomorrow Brian, on July 4th will be the one year anniversary of the passage of the one big beautiful bill which every single Democrat in the House and the Senate voted for. In fact they campaigned in 2024 that they wanted all of the tax cuts to expire which would have resulted in every single American facing another 21% tax increase because they want the government to have more money. They believe that the government knows how to spend, spend your money better than you do. That is not what we believe. But what we just delivered was we not only prevented, prevented the largest tax grief tax increase in US history, we created an additional tax cut of no tax on tips, no tax on overtime, no tax on Social Security, increase in the child tax credit increase in the guarantee deduction. So many provisions that delivered real, real relief for Working families. I'm always reminded of this waitress that came up to me in my congressional district just two months ago and said, congressman, I want to thank you. I did my taxes. I got a refund of over $10,000. This was a single mom waitress who works oovertime, who has three kids. And she's like, because of this refund, I will be able to pay for my rent for a year, plus some groceries. I had a waiter in Las Vegas that told me because of the no tax on tips, they will be able to afford their utilities for a year. That's real relief and affordability.

[D]

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[E]

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[A]

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[E]

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[A]

Yeah, but the problem is you guys haven't done anything since and you just disbanded rather than work last week. What happened?

[B]

Well, we can do a whole lot more and get a lot more done. I am very disappointed with how the House floor has been running. And guess what? When the floor disbanded on Tuesday, the Ways and Means Committee followed through with passing seven bills out on Wednesday. We didn't cancel our activities because there's too much work to be done for the American people when it comes to tax policy, when it comes to trade, when it comes to health care. You're talking to someone, Brian, who is very disappointed of what's been going on in the floor. But you know what? I'm not going to stop working. I'm going to make my committee members continue to work and hopefully the leadership will get it together on the House floor.

[A]

Do you want to see the president sign the housing bill? It's bipartisan. Do you think it'll help?

[B]

I do think that it would be very helpful for the president to sign it. And I think in the end, the housing bill will become law. And so, you know, the president is upset, rightfully so, that the United States Senate has not been acting on the Save America Act. Something that he's been pushing very aggressively. The House of Representatives has passed out three different times. The Senate just needs to get this bill passed.

[A]

But Congressman, they can't. Mitch McConnell is in the hospital. He's not for it. Then you got Murkowski, who's on the edge of flipping parties if you keep pushing her. And then you got Susan Collins, who might hurt her chances of reelection, which would hurt your entire party. And then you have Tillis who's angry because the President was going to primary him. But you know, Tillis might be coachable, but you're still at 54 after that. So what Democrat that's not named John Fetterman would go for it? You just don't have the numbers.

[B]

Exactly. It's because of the rules of the Senate in regards to the filibuster. I think when you talk to the everyday average American, Brian, they don't understand, okay, Republicans control the White House, they control the Senate and they control the House. Why can't they control everything? And it's because of the filibuster, the 60 vote rule over there. I'll tell you, Brian, the most alarming and most concerning thing that concerns me right now is that the Democrats last month in June started saying that they were going to shut down government on September 30, that they were not going to even vote for a continuing resolution. And why can they do that is because of the 60 vote filibuster rule. The United States Senate. They need to be having a real conversation with their members because the Democrats believe that it is.

[A]

You're not going to like it if you lose power, Congressman. You're not going to like it if you lose power.

[B]

I totally agree. And that's why the United States Democrats shall not allow there to be a lapse of government funding if they have to blow up the filibuster on October 1st. Because the Democrats refuse to fund government soon. Better do that because there should not be a lapse of government going into the election.

[A]

Yeah, got to figure a way to do that because that really hurt your agenda. It really hurt everybody. It hurt the country. But it helped the Democrats when they shut down the government.

[B]

I think they should pass a rule amending the filibuster saying that if there's a lapse of government funding, it only takes a simple majority vote from that until government's funded. And then that will incentivize Democrats and Republicans in the Senate to never allow there to be a lapse of government funding.

[A]

So, Congressman, Chairman Smith, before you go, what does the 250th anniversary of this country mean to you?

[B]

It's all about freedom and opportunity, Brian. It's exactly what our country was founded on 250 years ago and it's what it stands for today. And it's why I serve in government, is to continue to push that envelope, to make sure that the next generation has freedom, the next generation has opportunity. And that's what we're working towards. It's great to be an American and it's great to see people visiting our country and loving it even more now than ever before.

[A]

Absolutely.

[B]

Watching the World Cup, Watching the World Cup. Super proud of. Super proud of the United States. And also the team captain is from St. Louis, Missouri. So we're extremely proud of them.

[A]

The A to us one. Lastly, this is making a lot of headway lately. The President's personal finances are front and center and it looks like he has gotten a lot richer since he took office and so is his family. Here he was confronted on CNBC cut

[F]

29 in the disclosure this week. The amount of money that you and the family made in crypto, it was an outsized number. I was just asking, did you or you know about the crypto ventures? So that was just something.

[A]

Wait, wait, I could know about it?

[F]

I didn't. I mean, there's nothing illegal, there's nothing wrong with it. I could know.

[A]

So the President, I think, needs to get out in front of this message. Do you agree?

[B]

Absolutely. You know, the President was involved in crypto before he was ever president the United States. And crypto has definitely been growing in popularity and doing quite well. And so all I would have to say is the President was involved before he was ever president, United States. Anyone who's been involved in crypto during out this process, they're benefiting, they're doing quite well.

[A]

Yeah. And by the way, if you're in the market, you're also doing quite well. That was the President's point. 401K. If you're in a pension fund, take a look at the market. And the job numbers are still good despite the emergence of AI Jason Smith. Thanks so much, Congressman. Best of luck and good luck when you get back to work in the summer.

[B]

Thank you, sir. Happy 4th and take care of yourselves. Try to stay cool.