Paul Ryan (R-WI), a Senior member of the House Ways and Means Committe and leading contender to take the gavel as the next Chairman, recently gave a speech, “The Future of Tax Policy & Budget” at an event hosted by the Financial Services Roundtable in which he made clear the importance of improving the tax code for all businesses, including S corporations and other pass-through businesses.
A few comments made by Ryan were:
“Tax reform is one of those things that we don’t know if we’re going to be there at the end of the day, because we want to make sure that, as we lower tax rates for corporations, we do the same for pass throughs.”
“You know, a lot of people in the financial services industry – banks – are subchapter S corporations.”