Ryan Talks Tax Reform in Royal Basket Visit

In a recent visit to Royal Basket Trucks in Darien, WI, House Speaker Paul Ryan (R-WI) kept the focus on the Republican Party’s tax reform plan, while sidestepping questions about Special Counsel Robert Mueller’s recent indictment of three men associated with President Donald Trump as part of Mueller’s investigation of Russian influence in last year’s presidential campaign.

“I have nothing to add to these indictments other than this is what Bob Mueller was tasked to do,” Ryan said in comments reported in local news media regarding the recent news of indictments of former Trump Campaign Chairman Paul Manafort and associate Rick Gates on federal charges. Another Trump adviser, George Papadopoulos, also pleaded guilty several weeks ago to lying to the FBI about his contacts with Russians, the report said.

Instead, Speaker Ryan kept the focus on tax reform, although the bill wasn’t released until after a town hall meeting he held with local business leaders on Oct. 31. The meeting occurred after his visit to Royal Basket, which makes carts for laundry operators, hotel housekeepers and other customers.

The speaker did comment on the high points of the tax bill, which calls for lowering corporate and individual rates, while eliminating various deductions – moves that Speaker Ryan said would benefit middle class Americans. “Lowering their tax rates puts more money in their pocket in the first place, and gives them a break on their taxes,” he said. “Reducing the loopholes in the tax code makes the whole thing fairer for everybody. That is why we’re seeing an outpouring of support from the middle class for this kind of relief.” Click here to learn more.

The bill released on Nov. 2 calls for reducing the number of tax brackets from the current seven to four: 12%, 25%, 35% and 39.5%. Some taxpayers now in the 28% or 33% rate category would qualify for the new 25% rate under the plan. Specifically, taxpayers earning up to $200,000 for an individual and $260,000 for couples would qualify for the 25% rate, whereas now they’d pay taxes at one of the two higher rates noted above. Click here for details.