Paul Ryan: “This bill is designed to make our companies more competitive overseas and keep jobs here at home. There are many…”

“This bill is designed to make our companies more competitive overseas and keep jobs here at home. There are many examples throughout this where we fix a lot of problems in our international tax laws. One example that has been unfairly ridiculed here tonight is bows and arrows. Here is what we do here: current law, we tax domestic manufacturers from making arrows and we do not tax foreign manufacturers. So what happens? We lay people off in America. The companies go overseas, and they bring their products in tax-free. Is that good for America? Is that good for jobs? That is a problem that is being fixed in this bill, as are so many other problems. The point of this legislation is we are finally getting rid of these tariffs that are hitting a lot of our domestic manufacturers, a lot of our domestic industries, and costing jobs; and we are making American jobs more competitive in the international marketplace. That is a good thing, especially in this tough time of global competition.”