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Paul Ryan Talks Taxes on Janesville’s WCLO

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September 30, 2015 | Ian Martorana (202-225-3031) | comments

WASHINGTON, DC — On Monday, Wisconsin’s First District Congressman Paul Ryan (R-WI) spoke to WCLO’s Tim Bremel about fixing the tax code.

Leveling the playing field for American businesses:
“This is part of the problem we are having, where U.S. businesses, because of our tax code, are becoming put into such an anti-competitive position versus our foreign competitors, that our businesses are becoming foreign businesses. They’re inverting and becoming foreign companies, or they’re being bought by foreign companies. And so what we’re trying to do with these provisions and tax law is try to put American businesses on a level playing field with their foreign competitors, and that’s what these provisions do.”

Providing certainty in the tax code:
“These provisions are in law right now. If they go away, we will make American businesses, particularly financial services businesses, so uncompetitive that they’ll have to become foreign businesses. That’s our concern—that these kinds of businesses won’t be able to compete with foreign businesses overseas.”

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If we let [these credits] expire, we would lose American jobs. That’s the whole point. So the things that we’re trying to make permanent in what we call the extender package—like Section 179, which lets a farmer buy his equipment and write it off in the year in which he buys it—are things that we think should be a permanent feature of the tax code, which make American businesses more competitive.”

Treating all Americans equally:
“[What] I want to do is just treat everybody the same. Don’t pick winners and losers. Don’t try and hurt some industry just because you don’t like it, or help some industry because you do. Treat them all the same and give them the same kind of equal treatment. And if we do that, which is what I think is tax reform is about, we can lower the tax rates for everybody.”

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“Some of the extenders that we don’t think are good for the tax code or make American businesses more competitive we want to expire, so that we can lower everybody else’s tax rates with those revenues. That’s basically what tax reform is all about.”

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Tags: Taxes