Paul Ryan speaks frequently on the importance of simplifying the tax code. Now is the time to do it. Ryan’s goal for the American public is to be able to fill out our taxes on a sheet of paper the size of a postcard. The Republican plan eliminates taxes on the first $24,000 of income earned by a married couple and $12,000 earned by a single individual. The plan enhances the child tax credit.
This new tax reform will specifically address the issues the middle class is facing. The framework roughly doubles the standard deduction so that typical middle-class families will keep more of their paycheck. Republicans will be returning jobs to Main Street. It is important that small businesses are able to survive in this competitive climate.
Republicans are also going to bring back many of the jobs we have lost overseas by reducing the corporate tax rate. The plan will incentivize companies to return to the U.S. and bring jobs and investments back to our communities. The plan Republicans are proposing will stop our stagnant growth and bring jobs, investments and Main Street business back to America.