Detailed text transcripts for TV channel - FOXNEWS - 2017111

Detailed text transcripts for TV channel - FOXNEWS - 20171115:00:20:00

deduction is probably not as valuable for a person wyoming as it would be in new york. it's really important when people look at this in totality, by doubling the standard deduction, letting people write off $10,000 of the property taxes, lowering their tax rates, you are seeing benefits across the board for all families across the income scale. >> martha: corporations get to keep the state and local tax deductions, right? >> speaker ryan: corporations are taxed differently. >> martha: in some cases they get to. >> martha: they go from 35% down to 25% and they have full expensing. you don't write off that, corporations write off their plant and equipment investment. when they buy a factory or equipment, that they can write off. >> martha: one more quick then, in terms of spending cuts, that isn't on the table at all right now. you are finding ways to pay for the tax cut, and a lot of people want to know what one of those ways to pay for it isn't to cut spending here in washington. >> speaker ryan: is a very, very good question. we passed our budget and spending -- health care bill in

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