Yesterday, Speaker Ryan spoke with the New York Times and Fox News about the need for historic tax reform. Watch his interview with Fox News’ The Story with Martha MacCallum here and check out the excerpts below.
“Give middle income families a tax cut”
“What we want to do is for families, dramatically simplify the tax code. Give middle income families a tax cut. But simplify the tax code so much that people can fill out their taxes on a postcard. Clean up the IRS. And then when it comes to businesses, we have to get tax rates on businesses down. Why? Because we are taxing American businesses at much, much higher rates than our foreign competitors are taxing theirs. And as a result, we're losing jobs, we're losing businesses. The tax code rewards companies to make things overseas, not make things in America. And if you sell a product overseas and make money overseas, you can't bring money back, because of our tax system.”
“We've got to get this thing right”
“This has not been done, this being real comprehensive tax reform, since 1986. That was a different global economy then than we have now. And as a result, we now, as Americans, have the worst tax system in the industrialized world. So we've got to get this thing right. It is drain the swamp. It's get rid of the special interest carve outs so we can lower people's tax rates and simplify the system.”