Following the introduction of the historic Tax Cuts and Jobs Act, Speaker Ryan sat down with CNN’s Phil Mattingly to explain how this legislation will help working families. Under our plan, a typical working family of four will save $1,182 on their taxes. Watch the full interview here and check out excerpts below:

Speaker Ryan: “I just tell people, take a look at what this bill is. Do your taxes. If you’ve got some kids, take that number of kids and multiply it by $600. That’s the increase in your per-child tax credit. Instead of a couple not paying taxes on the first $12,000, you are not going to pay taxes on your first $24,000 in income. And oh, by the way, your tax rates are going down on top of that.”

Speaker Ryan: “It's clear and obvious that the whole purpose of this is a middle class tax cut, to give people more take home pay. . . . And more to the point, we have to get faster economic growth, because with faster economic growth, you get bigger paychecks, you get bigger wage growth. We are almost dead last in competitiveness in the industrialized world with our tax code. We're putting ourselves in the front of the pack with this. By getting the rates down and leveling the playing field for American businesses, so we literally don't penalize American businesses competing in the global economy, we're going to get more take home pay, we're going to get more economic growth and more jobs. This leads to higher standard of living and bigger paychecks. That's the purpose of doing this.”