Speaker Ryan Pitches Tax Reform at MillerCoors
House Speaker Paul Ryan says he expects a new tax law by the start of 2018.
Monday, Ryan toured the MillerCoors brewery in Milwaukee, then held a roundtable discussion with business leaders.
A tax reform plan would include lowering the corporate income tax, which Ryan says is holding back the economy.
Ryan said, "I don't think you can get the kind of economic growth potential that we can get in this country, like three percent growth, if you don't do comprehensive tax reform, and a tax cut for American workers and families."
MillerCoors CEO Gavin Hattersley called the U.S. corporate income tax rate "uncompetitive" compared to the rest of the world.
At a roughly 35% rate, before deductions and write-offs, the U.S. rate is about 20% higher than Canada's.
Hattersley was asked what rate he would like to see on American businesses, he said, "Well, we would like the lowest tax rate possible, obviously, but something competitive."