2017 is the year for tax reform. Our committees are working to produce legislation that will level the playing field for American businesses. That means slashing the corporate tax rate as low as possible and creating a new, lower tax rate for small businesses.
Today, under our crazy system, successful small businesses pay a top marginal tax rate of 44.6 percent. Compare that with the 22.5 percent average paid by the rest of the world, and you can see why it's so hard for our businesses to compete.
Speaker Ryan put it best during his first major tax speech of the year, where he delivered a clear message to our manufacturers: We are going to simplify the code and cut your taxes.
— Paul Ryan (@SpeakerRyan) June 20, 2017
At 3:00 p.m. ET today, President Trump will host small businesses from across the country for a discussion on tax reform. These job creators are the lifeblood of our economy, but the broken and outdated tax code makes it difficult for them to invest in their companies, hire more workers, and raise wages. Watch the event live here.
To learn more, visit speaker.gov and check out the links below: