Speaker pushes tax re­form plan

Out­side Mass. shoe fac­tory, pro­test­ers de­cry scrap­ping the health-care law.

The Denver Post - - BUSINESS - By Philip Marcelo Adam Glanzman, Getty Im­ages

LAWRENCE, MASS.» House Speaker Paul Ryan on Thurs­day pitched Repub­li­can plans for over­haul­ing the nation’s tax code at a shoe fac­tory, as demon­stra­tors out­side protested the GOP agenda of scrap­ping for­mer Pres­i­dent Barack Obama’s health care law and tax cuts.

Ryan trav­eled to this heav­ily Demo­cratic state to pro­mote one of Pres­i­dent Don­ald Trump’s top pri­or­i­ties, as con­gres­sional Repub­li­cans strug­gle to ad­vance key parts of the pre­siThe dent’s agenda.

Ryan de­liv­ered a sting­ing in­dict­ment of the cur­rent tax code, call­ing it in­ef­fi­cient, un­fair and too com­pli­cated. He said the tax code puts U.S. busi­nesses at a dis­ad­van­tage against for­eign com­peti­tors and over­whelms fam­i­lies who can’t fill out their own tax forms. “Right now, we’ve got a tax code that no one re­ally un­der­stands en­forced by an agency that no one re­ally likes — the IRS,” Ryan told a group of work­ers. “We’re go­ing to sim­plify all of this.”

Ryan said Repub­li­cans are work­ing to elim­i­nate tax ex­emp­tions, de­duc­tions and cred­its and use the rev­enue to lower tax rates.

A House Repub­li­can plan would lower the top cor­po­rate in­come tax rate from 35 per­cent to 20 per­cent. Trump’s plan would lower it to 15 per­cent.

The White House and con­gres­sional Repub­li­cans have been pri­vately ne­go­ti­at­ing their tax pack­age for weeks, with no pub­lic sign that they’re near a con­sen­sus. Democrats have been ex­cluded from the talks.

“This is a once in a gen­er­a­tion mo­ment,” Ryan said. “It is time to cut taxes and sim­plify the code. It is time to create jobs and grow our econ­omy.”

Ryan spoke af­ter he toured New Bal­ance’s sneaker fac­tory. Out­side, more than 100 demon­stra­tors held signs and chanted: “Health care for all” and “No hate. No fear. Paul Ryan is not wel­come here.”

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.