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Ryan launches push to pass sweeping tax overhaul this year, but Republicans are running out of time

 (Carolyn Kaster / Associated Press)
(Carolyn Kaster / Associated Press)

House Speaker Paul D. Ryan (R-Wis.) launched a major push Tuesday to overhaul the tax code this year — including massive cuts — but Republicans in Congress and the White House are running out of time as they continue to battle over the details.

With the legislative days remaining in the year dwindling, Ryan tried to jump-start the process with a major speech about what his staff described as the “crown jewel” of the Republican economic agenda.

“Once in a generation or so, there is an opportunity to do something absolutely transformational, something that will have a truly lasting impact long after you and I are gone,” he told the National Assn. of Manufacturers. “That moment is here and we are going to meet it. Ladies and gentleman, we are going to fix this nation’s tax code once and for all."

“We are going to get this done in 2017,” he said. “We cannot let this once-in-a-generation moment slip by.”

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