News / International
Paul Ryan won't miss chance for tax reform in the United States
29 Jun 2017 at 17:06hrs | Views
One of President Trump's most popular campaign promises was to lower taxes and simplify the tax code in the United States. Now that he has been in office for several months and the Republicans are ready to get to work, US citizens are waiting for the proposed changes, as they want to know whether the new ideas will work in their favor. And Paul Ryan is ready to go, full steam ahead.
A Goal Ryan Is Not Giving Up On
Republicans have been talking about rewriting the American tax code for a long time, and Speaker Paul Ryan is not ready to give up on that dream. He will tell his fellow Republicans that something must absolutely be done in order to avoid missing out on a rare opportunity to reform taxes, as well as come together to propose solutions that the American people will be satisfied with. After all, you don't need to attend an online master in taxation program and get your online master in taxation degree to know that the tax code, as it stands, is complicated and filled with rates that are too high for individuals and businesses.
What Has Been Taking So Long?
A year has passed since Ryan released his blueprint for overhauling the existing tax system. However, in that time, the Republicans have continued to struggle with coming up with a plan that everyone can actually agree on. As a result, the tax overhaul stalled. And the hopes of repealing and replacing the Affordable Care Act at the same time has also hindered the progress of tax reform. As a result, experts are predicting that it will take at least until 2018 for the promised tax cuts to even take effect. And there is skepticism surrounding whether those tax cuts will even occur at all.
Determined to Get It Done This Year
Despite predictions that it will take longer than Ryan wants for tax reform to occur in the country, he is ready to urge his fellow Republicans to get the job done this year. He will continue telling his colleagues where he personally stands on the many proposals that have already been causing a divide in recent months, and he will also clarify what he is hoping for, which is a "full speed ahead" approach.
The main problem, however, will continue to be getting the health care reform goal out of the way first. Congress is not able to actually formally start considering tax reform until it has completed its health care reform tasks. On top of that, they also need to pass a budget resolution for 2018, and that will take time because Republicans have not been able to totally agree on both health care reform and the budget.
While Speaker Ryan can urge his fellow politicians to get things done, there are many factors holding them back. It will be interesting to see if they can come together and come up with solutions, or if things will continue to stagnate throughout the rest of the year and beyond.
A Goal Ryan Is Not Giving Up On
Republicans have been talking about rewriting the American tax code for a long time, and Speaker Paul Ryan is not ready to give up on that dream. He will tell his fellow Republicans that something must absolutely be done in order to avoid missing out on a rare opportunity to reform taxes, as well as come together to propose solutions that the American people will be satisfied with. After all, you don't need to attend an online master in taxation program and get your online master in taxation degree to know that the tax code, as it stands, is complicated and filled with rates that are too high for individuals and businesses.
What Has Been Taking So Long?
A year has passed since Ryan released his blueprint for overhauling the existing tax system. However, in that time, the Republicans have continued to struggle with coming up with a plan that everyone can actually agree on. As a result, the tax overhaul stalled. And the hopes of repealing and replacing the Affordable Care Act at the same time has also hindered the progress of tax reform. As a result, experts are predicting that it will take at least until 2018 for the promised tax cuts to even take effect. And there is skepticism surrounding whether those tax cuts will even occur at all.
Despite predictions that it will take longer than Ryan wants for tax reform to occur in the country, he is ready to urge his fellow Republicans to get the job done this year. He will continue telling his colleagues where he personally stands on the many proposals that have already been causing a divide in recent months, and he will also clarify what he is hoping for, which is a "full speed ahead" approach.
The main problem, however, will continue to be getting the health care reform goal out of the way first. Congress is not able to actually formally start considering tax reform until it has completed its health care reform tasks. On top of that, they also need to pass a budget resolution for 2018, and that will take time because Republicans have not been able to totally agree on both health care reform and the budget.
While Speaker Ryan can urge his fellow politicians to get things done, there are many factors holding them back. It will be interesting to see if they can come together and come up with solutions, or if things will continue to stagnate throughout the rest of the year and beyond.
Source - Agencies
