Tags: Paul Ryan | Trump Administration | Trump Tax Reform | paul ryan | confusion | tax bill | americans

Paul Ryan: Still 'Tons of Confusion' for Americans About What Tax Bill Will Do

("CBS This Morning")

By    |   Wednesday, 20 December 2017 08:27 AM

With historic tax reform legislation likely heading to President Donald Trump's desk for a signature later Wednesday after a House re-vote, House Speaker Paul Ryan conceded there is still "tons of confusion" among Americans about what the tax bill will and will not do.

"You've had this big debate on TV where Republicans and Democrats were arguing with each other," the Wisconsin Republican told the "CBS This Morning" program, while commenting on polls showing the measure to be unpopular among many voters.

"I think there's just tons of confusion out there as to what this does or doesn't do. A lot of people think it's going to raise their taxes . . . I think the results will speak for themselves."

When Americans see larger paychecks in February because withholding tables were adjusted to reflect tax cuts, and businesses are able to keep more of what they earn, that will change the bill's popularity, Ryan added.

Just after midnight, the Senate passed the legislation on a 51-48 party-line vote, hours after Republicans pushed it through the House on a 227-203 vote.

However, the House will need to vote on it again Wednesday because three provisions in the bill, including its title, were found in violation of Senate rules, forcing the Senate to vote to strip them out.

The tax reform measure, he continued, will lower tax rates across the board for every income group, and provide "real relief for families and individuals," Ryan also said.

"The average family of four in America earning $75,000 is going to get a pay cut," he said. "When you double the per-child tax cut and lower the rates across the board for every income group, that's real relief for families of individuals.

"That's Republican helpful and something I think that's needed in these difficult economic times where people are literally living paycheck to paycheck."

With businesses, high rates have caused losses in global competition, and many have moved overseas because of U.S. tax laws, he continued.

"We're going to be one of the best tax systems in the world," said Ryan. "It's going to bring dollars back into our economy from overseas and give us better wages, more jobs."

The bill has come under criticism because the bill has a sunset provision stating that the cuts for individuals will end in 2027, but Ryan said that doesn't mean that rates will automatically go up after that time.

"Congress has every intention of making sure that does not happen," said Ryan. "This has been done over and over because of Senate rules, because we don't allow these to ever occur, but I think to acknowledge there's an increase down the road is to acknowledge we're cutting people's taxes right now."

Many Republicans voted against the bill in the House because it will return a tax on local, state and tax deductions, but Ryan pointed out that through a compromise, lawmakers agreed to allow $10,000 to be written off for property and income taxes, and tax rates overall will be lower.

Ryan also dismissed rumors that he plans to resign after the bill's passage, saying that he did not tell anyone that he'd thought about that.

"That's what surprises me about it," he said. "That's why I thought it was a very irresponsible piece. The idea of passing tax reform, that that's the only thing I care about...I see this as rank speculation among the D.C. Beltway press, speculating these things."

The speaker, also appearing on Fox News' "Fox & Friends," called the rules requiring a re-vote on Wednesday "bizarre."

"There these bizarre Senate rules and a couple of small tiny provisions dropped out because of these Senate rules," he said. "We didn't think they should have dropped out. It doesn't materially affect the bill very much. We will re-vote and pass it out again today."

No Democrats voted for the bill, and Ryan pointed out that the day of "Jack Kennedy Democrats" is over.

"Jack Kennedy was saying rising tide lifts all boats," Ryan said of the late president. "Cut taxes across the board and it will help the economy. You don't have Democrats saying that anymore. The Progressive left have gripped their party.

"I honestly thought at the end of the day we might get maybe a Joe Manchin or some of these Democrats in the senate from these red states that Donald Trump won. They all stuck with the progressive hard left against tax relief and tax reform."

That will prove to not be in Democrats' interest in the 2018 midterms, he continued.

"When people see their withholdings go down in February, when they see their tax cut, that's going to change the view of this because it's going to give us better jobs, higher wages, bigger paychecks and simplified system and people are going to get their taxes cut. That's good for everybody."

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With historic tax reform legislation likely heading to President Donald Trump's desk for a signature later Wednesday after a House re-vote, House Speaker Paul Ryan conceded there is still "tons of confusion" among Americans...
paul ryan, confusion, tax bill, americans
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2017-27-20
Wednesday, 20 December 2017 08:27 AM
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