Tags: Paul Ryan | Trump Administration | Trump Tax Reform | paul ryan | paychecks | economy | growth

Paul Ryan: Paychecks, Economy Will Grow Under Tax Reform

Paul Ryan: Paychecks, Economy Will Grow Under Tax Reform
(AP)

By    |   Wednesday, 20 December 2017 08:01 AM

The tax legislation passed by the Senate early Wednesday "is the most sweeping pro-growth reform" in decades and the empirical evidence will be realized by millions of Americans in a matter of weeks, Paul Ryan wrote in a column for The Wall Street Journal.

That evidence — paychecks.

"The centerpiece of the bill is the most sweeping pro-growth reform of our tax code since the Reagan era — perhaps ever," Ryan wrote in the Journal. "Once President Trump signs it into law, it will deliver more jobs, fairer taxes and bigger paychecks for Americans from all walks of life.

"With less money withheld, paychecks will be bigger in a matter of weeks," Speaker Ryan writes.

Ryan drives home the talking points that Republicans have touted for weeks:

  • Significant standard deduction increase.
  • Child tax credit increase.
  • Expansion of 529 college-savings plans.

While those credits expire in 8 years, the slashing of the corporate tax rate from 35 percent to 21 percent is permanent, the linchpin to the pro-growth component that Republicans are hanging their hat on:

More savings for business owners large and small will incentivize them to expand and "hire more workers."

"After years of stagnation and division, we are firmly and finally choosing the path of growth. These ideas will pave the way for an economic renaissance, as Americans once again feel confident in their future, and the country's too," Ryan wrote.

"Economic growth will not solve all our problems, but it will make our problems much easier to solve," Ryan wrote.

"This is conservative reform at its best: applying our founding principles of liberty, limited government and free markets to the most pressing challenge of the day," Ryan wrote.

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The tax legislation passed by the Senate early Wednesday "is the most sweeping pro-growth reform" in decades and the empirical evidence will be realized by millions of Americans in a matter of weeks, Paul Ryan wrote in a column for The Wall Street Journal.
paul ryan, paychecks, economy, growth, gop, tax reform
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2017-01-20
Wednesday, 20 December 2017 08:01 AM
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