Tax Reform Will Bring Back Profits Stranded Overseas | Speaker.gov

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This morning, Speaker Ryan participated in The New York Times’ TimesTalks series with Deputy Washington Editor Jonathan Weisman to make the case for historic tax reform—the first of its kind since 1986. The speaker argued that America should wake up on New Year’s Day 2018 with a more simpleaffordable, and competitive tax code that will create jobs,  grow our economy, and give Americans a well-deserved tax break:

“If you’re an international company—we’ve got a lot of them—and you make money by selling something overseas, you have to pay an extra tax just to back home. No other country does that. So when we make a Harley Davidson in Milwaukee, we sell it to the Germans in Germany, we pay their 24 percent tax, and then we have to pay the extra 11 percent tax to bring that money back home. Harley’s competitors don’t do that. . . . So we have trillions of dollars of profits that American companies have made stranded overseas not coming back to our country because of our tax laws.”

To learn more, visit speaker.gov, check out the links below, and watch Speaker Ryan on Fox News’ The Story with Martha MacCallum at 7 p.m. ET tonight.

Tax Reform Will Create American Jobs (9/6/17)

Conservative Groups Urge Congress to Pass Pro-Growth Tax Reform (9/6/17)

Speaker Ryan Statement on Tax Reform (8/30/17)

Headlines & Highlights from Speaker Ryan’s Cross-Country Tax Reform Push (8/30/17)

We can stick the landing on tax reform (8/24/17)