Wednesday, 21 June 2017

Wonkbook: Paul Ryan and Mike Pence leave big questions unanswered on tax reform

By Max Ehrenfreund Vice President Pence and House Speaker P...
 
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Vice President Pence and House Speaker Paul D. Ryan (R-Wis.) at President Trump's first address before a joint session of Congress in February. (Jonathan Newton/TWP)

By Max Ehrenfreund

Vice President Pence and House Speaker Paul D. Ryan aimed to project a united front on tax reform at a joint appearance Tuesday, and in a sense, they did.

"The Internal Revenue Code is twice as long as the Bible, with none of the good news," Pence told a Washington conference of manufacturing magnates. An hour later, Ryan (R-Wis.) repeated the line nearly verbatim.

Indeed, the pair found plenty of common ground as they discussed GOP plans for changing the U.S. tax code -- a Republican priority for more than a decade and a top item on President Trump's agenda. But despite sharing broad principles and a punch line, the party leaders give little indication they'd resolved the internal Republican divisions that have plagued the reform effort from its inception.

Speaking first, Pence argued for the importance of tax reform for the economy, recapitulating the outline of Trump's priorities on the issue that the administration published in April. The White House's goals, Pence said, include bringing down income tax rates and getting rid of the estate tax, as well as eliminating deductions, credits, loopholes and other breaks that complicate filing taxes and reduce the amount of revenue the federal government collects.

Ryan called for many of the same changes, arguing the United States' corporate tax rate puts American companies at a disadvantage relative to their foreign rivals.

But the two men left important questions unanswered, including a fundamental one about what type of tax reform the party plans to pursue.

Read the rest on Wonkblog.

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