'That’s a lot of money': Speaker Ryan on ‘America’s Newsroom’ | Speaker.gov

This morning, Speaker Ryan joined Fox News’ America’s Newsroom, where he talked about how the Tax Cuts and Jobs Act will deliver real tax relief for Americans in all walks of life. Watch the full interview here and check out the excerpt below.

Speaker Ryan: “What we’re doing for a family, instead of the first $12,000 being tax free, the first $24,000 are tax free. You know what that means, Bill? That means that 90 percent of all taxpayers in this country don’t have to itemize their deductions. . . . Oh, then you’re going to enjoy lower tax rates all the way up the income bracket until you become a millionaire. Oh, and then we’re saying if you have kids, $1600 per child tax credit. Look, the problem, Bill, is half the country is living paycheck to paycheck right now. A whole bunch of other folks are living about one paycheck away from living paycheck to paycheck. The average household will get a $1,200 tax break, an $1,182 tax break, that’s a lot of money for people who are on the edge, on the verge, worried about just next month. So that’s really what the design is here.”

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