We have trillions of US dollars in profit trapped overseas because of our tax code. Our companies should be able to bring their money home. pic.twitter.com/8xAwRNp1B1— Paul Ryan (@SpeakerRyan) September 7, 2017
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 simple, affordable, 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.