Protestors standing across the street from the New Balance athletic shoe factory protest the visit of House Speaker Paul Ryan, R-Wis., Thursday, July 20, 2017, in Lawrence, Mass.
Speaker Ryan said tax reform would also include accelerating business expensing, double the standard deduction for individuals, and retain popular deductions for charity donations, home mortgages and retirement.
A House Republican plan would lower the top corporate income tax rate from 35 percent to 20 percent. He plans to take questions at 3:15 p.m.
The strategy, embedded in the House GOP fiscal 2018 budget, faces a host of political and procedural obstacles, including numerous same ones that derailed the party's health-care bill in the Senate.
The Big 6 are Speaker Ryan, Senate GOP leader Mitch McConnell, US Treasury Secretary Steven Mnuchin, White House adviser Gary Cohn and the Republican Chairmen of 2 tax-writing committees.
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Republicans have made overhauling the nation's tax system a top priority. Ryan's website states that he will "discuss how tax reform will create jobs and grow our economy".
"Right now we have a tax code that no one really understands, enforced by an agency that no one really likes, the Internal Revenue Service", the speaker said. During his tour, the Wisconsin Republican is also expected to have a round-table discussion with New Balance owner Jim Davis, Boston's Democratic mayor Dan Rivera and other business leaders and elected officials. "No fear. Paul Ryan is not welcome here".
More than 100 demonstrators held signs and shouted slogans criticizing Republican efforts to repeal former President Barack Obama's health care law.
"We're very, very well on our way", he said.
The comments spurred some people to burn their New Balance sneakers - and post videos of it on Twitter. It employs more than 6,000 workers and operates two factories in MA, three in ME and one in the United Kingdom.
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