House Speaker Paul Ryan says there is a “contingency plan” to pass and pay for tax reform this fall – even if the congressional overhaul of Obamacare is unsuccessful.
“We can still do tax reform regardless of what happens on health care reform,” Ryan told Fox News on the floor of a New Balance factory on Thursday in Lawrence, Massachusetts.
His comments come a week before a White House and congressional deadline to agree on a tax code framework. A tax overhaul requires Congress to pass a budget that is already overdue.
But Ryan seemed upbeat that it will pass.
New Balance makes 4 million pairs of sneakers in the U.S. every year, and owner Jim Davis told workers gathered around a podium at the factory that a friendlier tax code could incentivize his company to aggressively expand in the United States.
Surrounded by sneakers in various stages of production, Ryan described this fall’s planned fix of the complicate tax code as a “once in a generation opportunity.”
But further action may be required on a health care bill before lawmakers have a chance to tackle the tax code.
The Senate has made significant changes to the health care measure that passed the House in May, but Ryan says that version is still preferable to a repeal-only bill.
“We just want the Senate to keep working at it until they get it right,” Ryan said.