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Paul Ryan says tax code overhaul will include a fourth bracket

Paul Ryan says tax code overhaul will include a fourth bracket

House Speaker Paul Ryan said the Republican tax overhaul will include a fourth tax bracket so the wealthiest Americans don’t get a windfall.

Ryan wouldn’t go into specifics, saying lawmakers are still hashing it out, but said Republicans want to make sure the biggest tax cuts go to the middle class.

“That’s why we’re introducing the fourth bracket, so that high-income earners do not see a big rate cut and that those resources go to the middle class,” he said on CBS.

“Once we get that budget resolution that tells us how our numbers will work, then we’ll introduce the bill which will have that fourth bracket.”