House GOP budget chief aims at tax code
March 19th, 2012
09:46 PM ET
3 years ago

House GOP budget chief aims at tax code

New York (CNNMoney) – In a year when political stalemate is expected to block any real progress on fiscal reforms, House Republicans will take a swing at tax reform in their fiscal year 2013 budget proposal due out on Tuesday morning.

House Budget Chairman Paul Ryan, the lead writer on the budget, and his caucus will call for a reduction in individual tax rates and brackets. Instead of today's six brackets, with rates from 10% to 35%, they are calling for just two - 10% and 25%. It's not clear how much income would fall under each bracket.

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Filed under: Budget • CNNMoney.com • Congress • House • Paul Ryan • Republicans
soundoff (15 Responses)
  1. Pete

    So the 1%ers will really only get the 10% bracket,plus no tax on capital gains,how nice...Middle class screwed again,not if we can help it.....

    March 19, 2012 10:31 pm at 10:31 pm |
  2. Debbie

    Same ol Ryan. Same ol Plan.

    March 19, 2012 10:53 pm at 10:53 pm |
  3. Larry L

    Another ridiculous Republican plan of cut and spend. Remember who got us into trouble? Republicans who wanted to cut taxes and have a couple of wars.

    March 19, 2012 11:49 pm at 11:49 pm |
  4. Four and The Door

    Paul Ryan is a genius. Many people realize that now. Many more will, eventually. We are all fortunate to have him working on our most difficult financial problems. He develops answers, not political compromises. We need more people focused on the job rather than the career.

    March 20, 2012 12:46 am at 12:46 am |
  5. mk1

    Let's see, every time taxes are lowered, the deficit goes up, every time. It happened under god Reagan, after which he raised taxes over ten times. It happened under W, but never compensated for that loss of revenue. Over 2/3 of our debt came under Republican control of the White House. Don't tell me Dems controlled Congress because the President has vet power and Republicans only like vetoes of Democratic ideas. No, Republicans will never admit that they are responsible for the vast majority of our debt, they don't have the integrity to do so.

    March 20, 2012 12:57 am at 12:57 am |
  6. steve

    We know how it will break down 25% poor and 10% for the rich, this is not rocket science

    March 20, 2012 04:04 am at 4:04 am |
  7. adam rustemeyer

    the tax breaks are good but some of them are aimed at the class of people congress should raise taxes on the rich and on imported and exported goods

    March 20, 2012 04:51 am at 4:51 am |
  8. Marry

    GOP/TP/Candidates and their voters: They just have no shame!! Give me a break!

    March 20, 2012 05:23 am at 5:23 am |
  9. Marie MD

    One suggestion for you brow man. You know where you can put that thumb!
    Going after seniors might not be the best plan of attack.

    March 20, 2012 06:37 am at 6:37 am |
  10. Namejkane fl live from teapublican moon base no taxes, no regulation no health care, free gas.

    Time to cancel bush tax cuts and increase revenue you can't run a business with no money coming in morons. The middle class are the job creators by increasing demand ,not the so called republican job creators that pocket all the money and send jobs to China, Dem landslide coming in Nov.

    March 20, 2012 06:51 am at 6:51 am |
  11. Wire Palladin, S. F.

    First the republicans add $12 trillion to our national debt, and now they want to cut revenue by giving even more tax cuts to the wealthy. Come on Wisconsin, give Ryan the boot this election.

    March 20, 2012 07:40 am at 7:40 am |
  12. diridi

    Entire Tax Code needs to be re-done. Mitt Romney paid only 13.6% while Average American paid 38%. Totally silly. Don't cry on job creators, what jobs created, Kmart, McDonald's, or WallMart, etc, Nonsense.

    March 20, 2012 07:46 am at 7:46 am |
  13. American

    i.e. even more unaffordable tax cuts for the rich

    Many Americans simply do not trust Ryan after his disastrous scheme to privatize Medicare & previous budget with no numbers.

    March 20, 2012 08:23 am at 8:23 am |
  14. Namejkane fl live from teapublican moon base no taxes, no regulation no health care, free gas.

    Out in next election, thanks teaparty clowns.

    March 20, 2012 10:11 am at 10:11 am |
  15. The Greedy Old Pigs declared class war on US!

    The GOBP assault on the poor and middle class continues. Ryan's "plan" is more of the usual disproven nonsense, with tons of tax cuts for our phony "job creators" while shafting the rest of us to pay for this welfare for the wealthy.

    March 20, 2012 10:25 am at 10:25 am |