In his farewell address, Speaker of the House Paul Ryan highlighted Republicans' work last year to pass President Trump's tax cut plan. "After years of doubt, years of the cynics saying it could not be done, we achieved the first major overhaul of our tax code in 31 years," he said. We went from having the worst tax code in the industrialized world to one of the most competitive. Reality check: The 2017 tax overhaul was indeed the first major overhaul of the U.S. tax code in three decades. And it did make the US tax code more competitive, at least in terms of corporate tax rates.

Source: CNN December 19, 2018 17:47 UTC