The Ways and Means Committee Is Tackling Foreign Money in American Politics

0:00 Speaker 1 Sunday morning. What is today is the chairman of the Ways of Means Committee, a good friend, one smart guy, Jason Smith, and so many things are happening in Washington. Well, I’m glad Jason Smith is deal watching America’s back. Mister chairman, give us your report. What else is going on in Washington, what you’re hearings on foreign money affecting our elections?

0:29 Speaker 2 You know, John, it’s great to be with you this morning once again. But what we did this week, we had a hearing in Washington, and the hearing is part of our three year investigation into non for profits and what we have found. There’s, of course more than a million and a half different non for profits in the nation,

0:48 but we have found that these nonprofit organizations in the United States, there are several that are fueling violence, chaos, and division within the United States. And we can’t allow our tax code, John, to continue to be weaponized against us by foreign governments. We have discovered, we have discovered millions of dollars that are going into these non for

1:10 profit organizations that that are linked with ties to the Chinese Communist Party. This is not a movement, it is a major it’s a major web. They’ve created a machine that’s being subsidized by the American taxpayer dollars, and we got to stop it.

1:31 Speaker 1 And how are they getting labored now? The other thing I hear, and I don’t know how what that has to do with charity, is that some a lot of these moneies are going in by foreign governments, and the foreign governments don’t really care about test deductions. They just write the text or do their duty to dead countries.

1:55 Speaker 2 You’re exactly right. The foreign entities will put money into the these non profits so that they’re basically shielded and you can’t tell that it’s foreign money funding these violent, violent protests that have resulted in criminal activity and people being arrested. Also, you’re seeing this money bundle funnel funneled in to just create chaos and unrest if they can

2:26 divide Americans. Countries like China are cheering, they’re successful, and that’s in fact what their actions are doing. We’re also seeing money flow into terrorist organizations and this is absolutely unreal and unacceptable.

2:48 Speaker 1 Wow. And I understand it’s coming in from the possibly through Chinese, through that Singapore connection. I understand that Swiss connection. There’s money coming in and some of those characters in New York are actually it’s not only their own money, it’s money that’s being possibly being followed through them, through them, through foreign governments.

3:14 Speaker 2 I’m coming from foreign governments. But as you know, John, it is illegal for a federal candidate for office for president, for the Congress, for the Senate to accept foreign donations. You can only accept money from US citizens. But we have seen that these wealthy foreign billionaires have found ways to get involved into our political system by putting millions

3:42 of dollars into these nonprofits that they send to other foundations, and they move around multiple times that ultimately get involved in our elections.

3:56 Speaker 1 It’s just it’s hard who in the federal government besides Congress you’re looking into it. Now, does the FBI have a division that’s watching over these people? Who is responsible for this?

4:13 Speaker 2 They absolutely, The Justice Department and the SBI are also they have influence and power over this and in the investigations. You look at the Judiciary Committee as well, and the Oversight Committee in Congress, they have authority. You know, the Ways and Means Committee is is not the committee that most people recognize as an oversight committee because of course

4:37 we’re over the entire tax code. We’re overall trade, Social Security, healthcare, and most of the welfare programs, but we do have oversight of anything that affects those entities. And when you’re looking at tax exempt organizations, that is what we’re responsible for and that’s why we’re doing this.

4:59 Speaker 1 I understood what a Sunday morning. What else would you like to tell the American people?

5:05 Speaker 2 You know, it’s always great to be with you, But I have to just compliment President Trump and all that he’s doing in bringing down the cost of goods. You have inflation right now, John, that’s the lowest. That’s the lowest it’s been in four years. Gas prices that’s the lowest it’s been in five years. And when it comes

5:28 to wages, wages have risen in the first year President Trump more than the prior four years combined. These are things that are really big. But the biggest thing right now, John, is that we’re in the middle of the largest refund season in the history of America. Because of the passage of the working family tax cuts and the big beautiful bill.

5:52 You’re going to see nearly four hundred billion dollars going back to the taxpayers. It will average a thousand per American roughly.

6:02 Speaker 1 Wow, that is a lot of money, and that that is wonderful. Besides that, I mean the economy. If President Trump brings down interest rates, gasoline is down, to listen, two dollars a gallon in a lot of states. I don’t know about Missouri, but well, so if he brings down interest rates, he’ll make homes affordable again for younger people.

6:29 Speaker 2 It absolutely will. Bringing down interest rates will create more affordability for first time home buyers. What’s really sad, John, is that when Trump left office, the average age for a first time home buyer was thirty two years old.

6:43 Now it is forty. And so it’s because of those high interest rates. We got to bring him down. There’s there’s a lot of other things that we can do. And the President, he works tirelessly. He does not give up on this. He has an incredible vision. But if you look at the ACCOMA, I think this year, John,

7:02 the economy is going to be one of the best economies this nation has ever seen. If you look at the passage of the Big Beautiful Bill, the Working Family’s tax cuts. The first quarter to follow after that bill was signed into law on July fourth, our GDP was four point four percent. The Congressional scorekeepers projected it would

7:23 be one point eight percent. The fourth quarter of last year is projected to be over five percent. The fifty year average from GDP is just under three percent. This year, you’re going to even see higher GDP, which is great for our nation.

7:42 Speaker 1 Mister Chairman Jason Smith from the great state of Missouri, thank you for coming on this Sunday morning and bringing all Americans up to date. And we’ll catch up with you again real soon.

7:52 Speaker 2 Thanks John, always great to be with you. Have a great weekend. Thank you.