Ryan: Typical Family of 4 Will Save $1,182 a Year Under GOP Tax Reform

By Susan Jones | November 2, 2017 | 11:51am EDT
House Republicans announce their tax reform plan. (Screen grab/C-SPAN)

(CNSNews.com) - The Republican tax reform plan "is for the middle class families in this country who deserve break," House Speaker Paul Ryan (R-Wis.) told a news conference on Thursday.

"It is for the families who are out there living paycheck to paycheck and just keep getting squeezed."

Ryan said the "Tax Cut and Jobs Act" will deliver real relief for people in the middle and for people who are striving to get there.

 

He said the typical family of four will save $1,182 a year on their taxes.  The additional money will "make a real difference," he said.

That $1,182 more covers about a year's worth of gas for your car.  It covers your family's phone bill for the year, depending on how much data, of course, your kids use.

That $1,182 more -- it can help you pay down your debt faster. It can help you start to renovate your home faster. That $1,182 more for the average family --that will help you put more money away for college. It will help you save for retirement; it will help you save for a rainy day.

Ryan said tax reform will make things “so simple that you can do your taxes on a form the size of a postcard."

Ryan called this a "very important and special moment for our country," a time to reject the "status quo" and embrace "the promise of our country."

Ryan said the "political will" to achieve tax reform is "iron-clad," although most Democrats do not appear to support the GOP plan.

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