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Paul Ryan Says Expenditures Must Be Cut in Order to Lower Rates

Future Ways and Means Chairman Paul Ryan, speaking at the Wall Street Journal’s CEO council meeting, said:

There is one inescapable conclusion, no matter how you slice it, which is: if we’re going to lower our tax rates, and we’re going to have to lower our tax rates in this country to be competitive for faster economic growth, there will have to be base broadening in that. That means you will see closure of loopholes and tax expenditures in order to get that base broadening. Using better score-keeping, using more accurate revenue targets may change the nature and scope of that, but nevertheless it is something that has to happen in order to have lower tax rates.

Here is a video of the interview in which he made that statement:

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