Four Things Before Today’s Tax Reform Speech

John Boehner

A little while from now, at about 12:45 pm ET, Speaker Ryan will make his first major speech on tax reform and how critical it is for creating jobs, growing our economy, and building a Confident America. Here are more details on how you can watch the speech.

Earlier, Speaker Ryan appeared on FOX News’ America’s Newsroom to preview the speech, talking to Bill Hemmer about four ways pro-growth tax reform is good for the country:

A confident America

“We have to do tax reform in 2017 if we’re going to get a confident America and if we’ll rebuild our country’s resilience and get the economy we need so people can get good-paying jobs that are careers and get this growth rate up.”

To make it simpler to pay your taxes

“Tax reform is really important. Look, hardworking taxpayers in America deserve a break. They don’t want a tax code working for the tax collectors. They want a tax code that is simplified and makes it easier for taxpayers to comply with.”

To create jobs, increase wages, and grow the economy

“We’re pushing businesses overseas. We’re telling U.S. companies, ‘stay overseas and if you make something overseas and make money there keep it there.’ That’s crazy. We need to make it so that companies can be successful on a worldwide basis and bring those dollars back home. .. We want to clean up the tax code. We really believe tax reform, getting our rates down so they’re competitive globally, is the key to economic growth. What our goal here is: higher take home pay, more jobs, faster economic growth. You can’t get that without tax reform. That’s why we’re really serious about getting on with tax reform.”

To make America once again the greatest place in the world to do business

“We haven’t done this since 1986. The rest of the world has passed us by, and now we have one of the worst tax systems in the industrial world in this 21st-century global economy. Our tax rate on corporations is 35%. Our top tax rate on successful small businesses, it’s as high as 44.6%. The average tax rate of businesses around the world is 22.5%. In Canada, it’s 15%. In Ireland, it’s 12.5%, England ‘s going to 18%. China is at 25 and going down. And we are taxing American businesses 35 to 45%. It’s ridiculous, it’s costing us competitiveness, it’s costing us jobs.  . . . This is holding us back and we know we need to clean up the tax code. Streamline the IRS. Make the system simple for families and small businesses. And make us more competitive globally so we can have faster economic growth.”

Tax Reform: More Jobs, Higher Wages, and Renewed Confidence

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