Getting rid of Obamacare may be in limbo, but House Speaker Paul Ryan insists another Republican goal is within reach — tax reform.
At the New Balance shoe plant in Lawrence, Massachusetts on Thursday, Ryan cited that he called a “crazy” current corporate tax rate of between 35 and 45 percent. “The rest of the world taxes their businesses at an average tax rate of 22 and a-half percent. We’re shooting ourselves in the foot.”
Ryan said the U.S. tax code hasn’t been significantly altered since Present Ronald Reagan and House Speaker Tip O’Neill got it done in the 1980s, but insisted that it will happen this year. “This is a once-in-a generation moment.”