Watch Live: Speaker Paul Ryan To Deliver "Major Speech" Calling For Permanent Tax Reform

In what is being hailed as a "major speech," which means just about nothing to ordinary Americans living outside the D.C. bubble, House Speaker Paul Ryan is expected to call for permanent tax reform in 2017 in remarks to be delivered to the National Association of Manufacturers.  According to the Washington Examiner, Ryan will report that the GOP intends to introduce and pass a joint tax bill in the fall of this year.

"We are going to get this done in 2017. We need to get this done in 2017.  We cannot let this once-in-a-generation moment slip."

 

"Transformational tax reform can be done, and we are moving forward. Full speed ahead."

 

One component of Ryan's tax plan, the so-called border adjustment provision, has become very controversial even among his Republican colleagues. It has elicited fierce opposition from retailers and other industries that fear it would result in higher taxes on imported products. In effect, the border adjustment would work by exempting export sales from companies' taxable income, but disallowing the deduction of the cost of imported goods from taxable income.

"While acknowledging that the particular mechanism must be sorted out with the administration, he will argue that we must fix the current incentive for American companies to move abroad, make things overseas, and then sell them back into America — which costs us jobs," his office said. Ryan will also stress that the U.S. needs a more competitive tax system after years of being disadvantaged.

 

"We are actually unique in the world in the way we discourage capital from coming back to America and how we incentivize off-shoring jobs," he'll say. "This is not the kind of exceptionalism we should aspire to…We must think differently, so that once again we make things here and export them around the world."

 

Meanwhile, Republicans will have to pass their tax package via a continuing resolution to take advantage of their simple majority in the Senate, a procedural move that will prevent Democrats from blocking it. Under such a procedure, the tax package cannot add to long-term budget deficits. 

That said, in order to take advantage of the procedure, Republicans in the House and Senate must pass a budget resolution.  And while that may sound simple enough, the Republican party is bitterly split over spending levels for the military and various domestic programs.

Of course, major tax reform has been a key agenda item for Republicans for quite a while and only time will tell whether it is possible or, as John Boehnor would say, just a bunch of Republican "happy talk."

Comments

Looney Tue, 06/20/2017 - 12:47 Permalink

  I’d like to see a remake of the old ad with Paul Ryan pushing Granny off the cliff, starring Paul Ryan and Nancy Pelosi. This time, Ryan should jump from the rocky ledge, too.  ;-) Looney

BullyBearish SuperVinci Tue, 06/20/2017 - 14:23 Permalink

our "leaders" KNOW the only way to get more consumption of corporate goods is to get money to the lower classes and the only way to do that is through the .01%, so, expect huge tax cuts (e.g. disguised as obomber care fixes) for the wealthy so they'll be able to knock a few more crumbs off of their plates to the undeserving...

In reply to by SuperVinci

AGuy froze25 (not verified) Tue, 06/20/2017 - 13:30 Permalink

"Ryan sucks, I expect nothing from him other than more BS Talk with Zero action."

BINGO! I watched it while eating lunch and it was a real snooze. Nothing of substance. Only figure discussed is cutting the Corp Tax to 15%. Nothing about cutting spending to offset alleged tax cuts. Ryan's Plan is DOA.

Didn't mention Trump by name even once, Just Pence.

In reply to by froze25 (not verified)

Pigeon Tue, 06/20/2017 - 12:49 Permalink

Ryan  -like the rest of the RINOs - is full of shit. End of story. Every year, same bullshit. Every year, zero results. Fuck him and the horse he road in on. No, wait, let's not blame the horse. Fuck him twice.

Rainman Tue, 06/20/2017 - 12:51 Permalink

If you drive a car, I'll tax the street,If you try to sit, I'll tax your seat.If you get too cold I'll tax the heat,If you take a walk, I'll tax your feet.  h/t  The Beatles ( Taxman )

montresor (not verified) Tue, 06/20/2017 - 12:55 Permalink

Well fuck ya if you're just going to counterfeit the money like fucking Zimbabwe then why have any taxes at all? Just give the poor dumb bastards another t-bill!

wmbz Tue, 06/20/2017 - 12:58 Permalink

Once I saw the name P.Ryan I stopped reading, because it's not worth reading or watching!Ryan is a lying piece of shit, nothing more, nothing less.

shimmy Tue, 06/20/2017 - 12:58 Permalink

"We have one of the highest corporate tax rates in the world, driving companies and jobs overseas. Our plan levels the playing field."As far as I know, none of the corporations who are in posiiton to go overseas actually pay anywhere close to that high tax rate and lowering it while closing loopholes will make these corporations actually pay more in tax which they probably won't be happy about.Anyone who actually thinks the tax rate that nobody pays is keeping manufacturing from being brought back, rather than the simple fact it is cheaper to produce things elsewhere rather than unionized and high wage U.S., must be smoking something funky.Since the republicants basically screw up everything they do, even replacing the disaster that is obozocare, I expect they will screw up this tax reform and the libtards will sit back and laugh. 

AGuy shimmy Tue, 06/20/2017 - 13:48 Permalink

"Anyone who actually thinks the tax rate that nobody pays is keeping manufacturing from being brought back, rather than the simple fact it is cheaper to produce things elsewhere rather than unionized and high wage U.S., must be smoking something funky."

Jobs won't ever come back even if there were real tax cuts:
1. Regulation, makes it nearly impossible to do anything. Not only at the Federal level, but at the state, county and local levels too boot.
2. Piss Poor worker ethics/education. Millenials took worthless college degrees and had a socialist/cultural Marxism education in public schools. They are glued to there smartphones all day, come in late and leave early. Totally un-reliable and often obstructionist.
3. No way can america worker compete with an asia worker that workers 12+ hours a day for a buck or two an hour.

Real tax reform can't happen until these things are fixed:
1. entitlment reform and out-of-control gov't spending. Federal gov't runs a $1T deficit, thus Federal spending need to be cut by $1T before tax cuts can be considered
2. Cut Obozocare. Any tax cuts will be more than swallowed by soaring Obozocare premiums. In my state, premiums will be increasing by 50% this year. I will likely be spending about an extra $4K next year (and I am single). for a family I would imagine they will be paying atleast $8K more next year. I doubt Ryan's cuts will even come close to offseting soaring Obozocare costs.
3. Cut Regulations: This is the number one issue that is preventing companies from hiring. It's just too damn costly to hire workers, or expand production. Until regulations are eliminated jobs will continue to move overseas.

In reply to by shimmy

dirty fingernails AGuy Tue, 06/20/2017 - 14:29 Permalink

regulations isn't the problem. Thats a meme pushed by the owner class looking to increase profits by not needing to meet safery, health, or evnironmental standards. Unless you like tge idea of your home town being a toxic dump "so you can have a job". its labor that pushes production to 3rd world shit holes. The sad thing is that they've kept inflation hidden for so long now by things like keeping wages/minimum wage low and using illegal immigrants to do jobs a citizen can't afford to do. Its been a coordinated attack on our purchasing power and our ability to not use credit.

In reply to by AGuy

CHoward Tue, 06/20/2017 - 13:02 Permalink

OK - I got it. First you called it Tax Reform Today its: Permanent Tax Reform Next year it will be : Super Permanent Tax Reform Kinda like "comprehensive immigration reform" - that moniker lasted 40 fucking years and nothing changed.

J bones Tue, 06/20/2017 - 13:08 Permalink

So we are
- broke
- raising rates
- cutting taxes (edit: suppose to be reallocating the tax bracket but at the same time we arnt shrinking government expenses we are just moving them around)

So how do we service the debt?

corporatewhore Tue, 06/20/2017 - 13:07 Permalink

He's up for reelection and is shouting the same bullshit that gets him reelected every two years by the cheeseheads.Good God, get rid of this guy and elect someone else.

novictim Tue, 06/20/2017 - 13:13 Permalink

I'm at a point now with loser Ryan (or Eddie Munster as I call him) that I simply assume that anything he has planned or says is the opposite of what is actually good for the USA.Wisconsin, you have a lot to answer for for voting in this craven maggot.MAGA, dump Ryan and the other Globalists/Neoliberals.  Build the Wall. Deport illegals en masse.  Rescind H1B Visas.  Institute Trade Tariifs and force American industry back to the US of A.And build a new and friendly relationship with Russia, the USA's natural ally on the basis of shared culture (Western). Drag the NeoCons out of the Senate naked and covered with tar and feathers.