Last week, Speaker Ryan crisscrossed Wisconsin’s 1st District to meet with local businesses and employees about the need to reform our broken tax code and cut tax rates.
On Thursday, Speaker Ryan joined WCLO’s Tim Bremel for an interview about the need for a more competitive tax code.
“You just can’t be competitive when you’re taxing a Wisconsin manufacturer at 45 percent and a Canadian equivalent competitive manufacturer at 15 percent,” Ryan said. “It doesn’t work. So we’ve got to get those rates down.”
On Friday, Speaker Ryan kicked off his day at LDV Inc. in Burlington, where he explained why we must cut the corporate tax rate to increase American competitiveness.
“The tax rate on this businesses is 44.6 percent,” Ryan told LDV employees. “The average tax rate that industrialized countries tax their businesses is 22.5 percent . . . we are losing competition. We are losing jobs.”
At Allis Roller in Franklin and Merz USA in Franksville, the speaker argued that tax reform is essential to stop the drain of American businesses overseas and bring jobs back home.
“We have a really bad tax system and our tax system right now penalizes American businesses in a way that our foreign competitors don’t,” he explained. “We tax ourselves in a way that basically encourages companies to make stuff overseas instead of making it in America. It’s a real problem.”
Finally, Speaker Ryan met with employees at Inpro Corporation in Muskego, where he talked about why we need a Made in America tax code that incentivizes businesses to grow and invest right here in the United States.
To learn more, visit speaker.gov or check out the links below: