Speaker Ryan Previews Unified Framework for Tax Reform

Summary: Today at a press conference with Republican leaders Speaker Ryan previewed the upcoming release of a unified framework for fixing the broken tax code which will create jobs raise wages and grow our economy. Tax Reform

We are very excited about this because we really believe that we have a historic chance at prosperity in this country. Our Republican leaders in the House the Senate and the White House have come together on a concrete framework for historic tax reform. And we are going to be discussing this with our members tomorrow. I cant tell you how excited we are about this. This is not just a big moment for Congress its a big moment for Americans. Too many people are struggling in America today. They pay too much in taxes. They feel stuck. They feel anxious. They are living paycheck to paycheck. We need faster economic growth and we need a tax code that is built for growth that helps struggling families. People need relief and we know this. Thats why this framework is going to be focused on helping American families. Its going to be focused on the people in the middle. Its going to be focused on helping people get to the middle and those striving to do that. At the same time our businesses in America cannot compete with the low tax rates of foreign nations. So what are they doing? They are moving overseas. The companies that stay here are getting hit hard. And when a company moves overseas it takes its jobs and its capital overseas. I was over at Harley Davidson just the other day. Its an American made company in Menomonee Falls Wisconsin. Everybody knows what a Harley Davidson motorcycle is. I heard the enormous challenges that they face. Their competitors all face much lower effective tax rates than Harley does. Thats the story of American businesses who are put at an enormous competitive disadvantage. But historic tax reform will put all of our businesses in a better competitive position so they can stay here at home so they can raise wages increase economic growth more investment in American jobs more investment in American economic growth and more take home pay so that people in American living paycheck to paycheck can get the relief they need and deserve. If we succeed in tax reform and if we lower the tax rates these kinds of companies will prosper theyll grow theyll hire theyll increase wages. Theres no doubt about this: This country needs this. And that is why we are very very excited about historic tax reformreform that we have not seen in this country since 1986. It is high time we do this and that is why we are very very excited about doing thisbringing prosperity wages higher take home pay to American citizens. And that is why tomorrow is the beginning of a very important process that we are really excited about here in Congress."