This morning, Speaker Ryan joined Mornings with Maria to discuss how Americans are already benefiting from the Tax Cuts and Jobs Act. Watch the interview here and check out excerpts below.
Maria Bartiromo: “And yet, it’s not resonating with everybody because you have the other side saying, ‘it’s Armageddon . . . it’s crumbs’”
Speaker Ryan: “The rhetoric is so over the top that I don't think people know what to believe. But guess what? The good news is: The law occurred. Reality is setting in. People are opening up their paychecks and seeing bigger checks, they are seeing bonuses from employers, they are seeing a raise in their minimum wages. That is real, that is occurring. Oh, and by the way, growth. . . . We are now getting into real growth, real wage growth, real take-home pay. That is exciting, that is good, and I can't imagine why someone would be against that.”
Speaker Ryan: “Because of tax reform, you have massive amounts of repatriation. Because of tax reform, you’re not going to see any more inversions. Because of tax reform, you’re seeing foreign direct investment coming into this country. Tim Cook is putting 20,000 jobs in America—because of tax reform. We had the worst tax code in the industrialized world before tax reform, now we have one of the best tax codes in the industrialized world because of tax reform. It’s the basics of economic growth that have been put in place here. Very serious pro-growth policy, higher living standards, more jobs, higher wages. That’s good for everybody. People are getting wage increases, bonuses, and tax cuts. Ninety percent of American workers this month will see bigger paychecks because their withholding tables will go down. . . .PepsiCo, MetLife, U-Haul, just in the last 24 hours.”
Speaker Ryan: “This is nothing but good news. It is extremely good news. And so we're knocking down our challenges in getting these things done. We have done regulatory relief. We’re doing tax reform. We’re in the middle of negotiating immigration. We are going to go work on the skills gap, getting people from welfare to work, to get people the skills they need to get into the labor force. And, yes, we are never going to give up on entitlement reform because that at the end of the day it’s what will get us on the debt.”