Top Republicans Vow to Reform 'Harmful Taxes'

GOP House Speaker Paul Ryan says it is finally time for some serious tax reform.

In a D.C. speech, the Wisconsin Republican vowed to fix the nation's complex tax code "once and for all."

Ryan said it has been roughly three decades since there was comprehensive tax reform.

He noted that the federal tax code runs tens of thousands of pages and argued that few people can understand it.

Ryan said sweeping reforms will prompt tax cuts and will lead to the creation of more jobs. He also argued that tax cuts need to be permanent.

Ryan says Republicans will "eliminate harmful taxes," including the death tax and alternative minimum tax.

He says it's about planning for the future and leaving a better legacy.

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