Paul Ryan Posts Tax Reform Hype Video: ‘Let’s Get This Done’

BY:

House Speaker Paul Ryan (R., Wis.) tweeted a montage of himself Tuesday discussing the need for tax reform over the past 20 years as Congress looks set to pass an overhaul of the country's tax system.

The House and Senate, which are both under Republican control, appear to have the votes to pass the Tax Cuts and Jobs Act and get it to President Donald Trump's desk for his signature by the end of the week.

Ryan, who first came to Congress in 1999, has been advocating for tax reform for his entire legislative career. Throughout the reel, Ryan emphasized the need to simplify the country's tax code and to lower the corporate rate to make U.S. businesses more competitive.

"We want a tax system that works for taxpayers, not for tax collectors," Ryan said last year, with the video concluding "the time is now" and "let's get it done."

Among other measures, the legislation cuts the corporate tax rate from 35 to 21 percent, keeps the number of brackets at seven but lowers the rates to 0, 10, 12, 22, 24, 32, and 35 percent, and repeals the individual mandate of the Affordable Care Act.

If passed, it will constitute the most sweeping change to the country's tax system since the Reagan administration.

Republicans are touting the bill as one that will create jobs and economic growth, while Democrats say it benefits the wealthy and will balloon the deficit.

The bill is not expected to receive any Democratic support. House Minority Leader Nancy Pelosi (D., Calif.) has called it "Armageddon" and the "worst bill in the history of the United States Congress."

×
THE MORNING BEACON DAILY NEWSLETTER
MAKES IT EASIER TO STAY INFORMED
Get the news that matters most to you, delivered straight to your inbox daily.

Register today!
  • Grow your email list exponentially
  • Dramatically increase your conversion rates
  • Engage more with your audience
  • Boost your current and future profits