House speaker Ryan commentsThere is more hedging on the corporate rate cut
US House Speaker Ryan is on the newswires saying:
- House tax bill has immediate corporate tax rate cut, but phasing in rate reduction would still be good for businesses
- Republicans still on track to pass tax reform this year
The problem with the tax reform is the threat of larger deficits before the potential growth from such measures. Plus it is not guaranteed the expected 4% growth would materialize.
The President does not want a phasing in.