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US can’t hit 3% growth without tax reform

House Speaker Paul Ryan believes the United States cannot reach 3 percent economic growth — the Trump administration’s goal — without overhauling the tax system.

“We really believe we can’t get the 3 percent growth without this,” the Wisconsin Republican told CNBC on Tuesday.

Both Ryan and Vice President Mike Pence said earlier Tuesday that the GOP aims to pass tax reform by the end of the year.

Ryan told CNBC that the White House, House and Senate are “narrowing” their differences on tax policy.

This story is developing. Please check back for further updates.

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