Democratic Rep. Tim Ryan revealed Thursday that he supports lowering the corporate tax rate and simplifying the tax code, two core components of GOP tax reform.
In an interview on MSNBC, Ryan explained that while he is in favor of a progressive tax code, he also believes Democrats “can’t just be the party of redistribution of wealth. We’ve got to be the party of creation of wealth.”
“Let me be clear: I don’t think we can be hostile to business,” Ryan said. “I think we need to simplify the tax code, I think we need to lower the corporate tax rate.”
The corporate tax rate has been a major sticking point for Republicans because the United States’ 35 percent rate is one of the highest in the Organization for Economic Co-operation and Development. As Speaker Paul Ryan argued on Wednesday at Intel, “we’re taxing American businesses out of America.”
Simplifying the code is another area where Rep. Tim Ryan agrees with Speaker Paul Ryan.
“…we want to clean this thing up,” Speaker Ryan said in the same speech at Intel. “We want to clean up our tax system to make it simple and fair.”