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Tax reform = bigger paychecks

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October 30, 2017 | Ian Martorana (202-225-3031) | comments
WASHINGTON – Today, Wisconsin’s First District Congressman and Speaker of the House Paul Ryan joined WTAQ’s Jerry Bader and WTMJ’s John Mercure to talk about the benefits of tax reform. Check out excerpts below:

Lowering rates for families and individuals:

The point of tax reform is to make the code simpler and to lower people’s tax rates and increase people’s take home pay. It’s all about getting bigger pay checks, it’s all about fairness and simplicity . . . doubling the standard deduction means more people don’t have to itemize their deductions and they can fill out their taxes on a tax form the size of a postcard. And so it just dramatically simplifies the tax system for everybody so that tax day is an easy thing.”

“The postcard form that we’re proposing and the framework that Congress put out already says we will double the standard deduction to make it easier for people to fill out their taxes on a form the size of a postcard. That’s something that we think is very, very important. And that, to me, is the biggest thing you can do to make the tax system so much simpler for most people. By doubling the standard deduction, you basically make it so that the vast majority of Americans can do their taxes on a postcard-type form and they don’t have to navigate all the different loopholes and deductions. You can just take one big, easy standard deduction and that actually lowers people’s taxes. As far as tax rate reduction, the tax cuts in this bill are aimed at the middle class. The reason the President has mentioned having a fourth rate is so that millionaires don’t have a big income tax cut, but that the tax rate reduction and the big tax relief is squarely focused on middle income taxpayers.”


Recent interviews on tax reform:
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