Speaker Ryan on Tax Reform: ‘We are going to get this done in 2017’

John Boehner

Today, Speaker Ryan made the case for commonsense, pro-growth tax reform in a major address to the National Association of Manufacturers (NAM) 2017 Manufacturing Summit. “We are going to get this done in 2017,” the speaker said. “We need to get this done in 2017.”

Click here to watch the full speech, and check out some of the latest news clips below.

House Speaker Paul Ryan (R., Wis.) expressed confidence Tuesday that Republicans can ‘fix this nation’s tax code, once and for all’ this year. . . . Mr. Ryan’s speech to the National Association of Manufacturers, sandwiched between cable news appearances, was meant to build momentum and public support for the party’s aims. Republicans see a tax overhaul as a political necessity that would deliver on one of their core campaign promises.” (Wall Street Journal)

“Speaking at the National Association of Manufacturers 2017 Manufacturing Summit in Washington, Ryan vowed to repeal the estate tax, consolidate America’s seven individual tax brackets to three, reduce the tax burden on business and disincentivize companies from reincorporating overseas and shielding international earnings from the taxman. And he promised he and his colleagues on Capitol Hill would accomplish that by the beginning of 2018.” (US News and World Report)

“[Ryan] delivered a high-level endorsement of lowering tax rates and bringing back cash that corporations currently have stashed overseas to avoid the 35 percent corporate tax rate. In his address, he also touted the GOP agenda on health care and financial regulation. And he discouraged the audience from overreacting to the news of the day about the status of tax reform talks.” (Washington Examiner)

Rewriting the tax code is a goal that is dear to Mr. Ryan’s heart, and he is preparing to push through the headwinds that have stymied lawmakers for the last 30 years. ‘Transformational tax reform can be done, and we are moving forward,’ he will say. ‘Full speed ahead.’” (New York Times)

“Paul Ryan, the top Republican lawmaker in Congress, has warned his party against accepting half measures on tax reform. . . . Mr. Ryan said: ‘These reforms — these tax cuts — they need to be permanent. Every expert agrees that temporary reforms will only have a negligible impact on wages and economic growth. Businesses need to have confidence that we will not pull the rug out from under them.’” (Financial Times)

“Mr. Ryan used a highly anticipated speech at a National Association of Manufacturers event to try to deliver a unifying pitch and urge proponents not to let a ‘once-in-a-generation’ opportunity slip from their grasp, as lawmakers work behind the scenes to hammer out the details of a plan.” (Washington Times)

“Tuesday’s remarks will build upon themes raised in his previous ‘Confident America’ speech delivered shortly after taking the role as House Speaker. . . . The Speaker chose the National Association of Manufacturers as the venue for the speech, his office said, because ‘few industries have demonstrated so much resilience or have as much stake in our economic debate as American manufacturing.’” (CBS News)

“He also pushed for adoption of a territorial tax system for multinational corporations. Currently, the United States is one of only a handful of countries that tax businesses on worldwide earnings once they are brought back into the country—encouraging companies to shift their headquarters and profits overseas.” (CNBC)

“To deal with the constraints of reconciliation, Ryan and the leaders of the tax-writing House Ways and Means Committee have been pushing for revenue-neutral tax reform that is permanent. Business leaders who testified at a Ways and Means Committee hearing last month also said that permanency of tax changes is important to provide certainty.” (The Hill)

“Four days before the one-year anniversary of the release of his tax blueprint, House Speaker Paul Ryan delivered a pep talk seeking to assuage growing doubts about the prospects for a major tax overhaul. . . . Ryan’s speech urged Republicans not to squander an opportunity to ‘do something transformational’ for the economy and overhaul the tax code permanently.” (Bloomberg)


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