House Speaker Paul Ryan released the attached video with the following message:
“It has been more than 30 years since we last overhauled our tax code, and in that time, it has swelled to seven tax brackets and more than 70,000 pages. Washington has piled up all these carveouts and loopholes—making things far too complicated and far too expensive for you and your family. This needs to end, and we have a plan to do it.
First, we are going to throw out these loopholes. Then we will use that money to lower taxes. And we will simplify the code altogether. Instead of seven brackets, there will be just four. And we will make things so simple you can file your taxes on a form the size of a postcard.”