GREEN BAY, WI (WTAQ) – Tax reform is essential for the U.S. economy to reach its full potential.
That according to House Speaker Paul Ryan, who tells WTAQ’s Jerry Bader Show not to buy into Democrats’ claims that the Republican plan is a handout for the wealthy.
“This argument that we’re lowering tax rates on wealthy individuals. It’s really that we’re lowering tax rates on the businesses that create all of the jobs that we have.”
Ryan notes the GOP effort aims to lower tax rates and increase the standard deduction for the middle class.
“More take home pay for people, relief for people who are really struggling, and businesses have an incentive to grow, to invest, and to be more competitive in the global economy which we live in.”
Ryan says U.S. businesses are being taxed higher than their foreign competitors, at the highest rate in the industrialized world, which is resulting in companies either moving their headquarters overseas or being bought by foreign companies.
Despite Republicans only holding a 52-48 majority in the Senate, which was unable to pass the healthcare bill that the House passed in May, Ryan says he likes the tax reform plan’s chances.
“I feel very good where we are. We learned some lessons from healthcare. We pre-negotiated the outlines of this bill with the Senate and with the White House to make sure that we all stay on the same page.”
Also, Ryan was asked about the first indictments being made in the Russia probe on Monday, with former Trump campaign chairman Paul Manafort, his former business associate Rick Gates, and former Trump campaign adviser George Papadopolous having been indicted on various charges, including: conspiracy, money laundering, and making false statements.”
“People deserve tax breaks, especially middle-class taxpayers and businesses who are struggling to compete globally. Nothing derails us from focusing on that.”
In addition, Ryan discussed the nation’s opioid crisis, following President Trump having declared it a ‘public health emergency’ last week.
“We are putting our money where our mouth is. We already approriated $781-million dollars for combating the opioid crisis. We passed an enormous opioid response bill into law.”
Ryan says it is important to target both the supply and demand of opioid drugs.
