Paul Ryan unveils plan for simpler tax code
- 8 years ago
House Republicans led by Speaker Paul Ryan unveiled a plan Friday for a simpler tax code, the sixth and last installment of a GOP agenda.
The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.
Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.
"For families and individuals, the new tax system will simplify and lower tax rates," Ryan said in a morning news conference.
The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.
Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.
"For families and individuals, the new tax system will simplify and lower tax rates," Ryan said in a morning news conference.