Republican Tax Bill

Wednesday on NBC’s “Today,” House Speaker Paul Ryan (R-WI) was asked to react to an op-ed from former New York City Mayor Michael Bloomberg criticizing the tax legislation to be passed by the Republican-led Congress later today.

Bloomberg argued CEOs were not waiting on tax cuts to “jump-start the economy,” which he called “pure fantasy” to think that the tax bill would lead to a better economy

“I’ll ask you plainly, are you living in a fantasy world?” “Today” co-host Savannah Guthrie said to Ryan.

“I would compare that anecdote to just the surveys of businesses, like the National Association of Manufacturers’ surveys, which show the vast majority of businesses are going to do just what we say — reinvest in their workers, reinvest in their factories, pay people more money, higher wages,” he said. “The data is really clear, by the way — workers benefit with this through higher wages. It’s not a question of if. It’s a question of how much they benefit.”