Home / World / As the legislative clock ticks, Ryan launches push to pass sweeping tax overhaul – Los Angeles Times

As the legislative clock ticks, Ryan launches push to pass sweeping tax overhaul – Los Angeles Times

House Speaker Paul D. Ryan launched a major push Tuesday to overhaul the tax code this year — including massive cuts — but Republicans in Congress and the White House are running out of time as they continue to battle over the details.

With the year’s legislative days dwindling, Ryan (R-Wis.) tried to jump-start the process with a major speech about what his staff described as the “crown jewel” of the Republican economic agenda.

“Once in a generation or so, there is an opportunity to do something absolutely transformational, something that will have a truly lasting impact long after you and I are gone,” he told the National Assn. of Manufacturers. “That moment is here and we are going to meet it. Ladies and gentleman, we are going to fix this nation’s tax code once and for all.”

“We are going to get this done in 2017,” he said. “We cannot let this once-in-a-generation moment slip by.”

Ryan on Tuesday declared that he did not want to pass tax changes that would expire after 10 years.

“These reforms, these tax cuts, they need to be permanent,” Ryan said.

Twitter: @JimPuzzanghera

jim.puzzanghera@latimes.com

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UPDATES:

11:45 a.m.: This article was updated with comments from Vice President Mike Pence and additional details about the tax plans.

This article originally was published at 11 a.m.

Source: world

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