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WASHINGTON, DC - OCTOBER 26:  Speaker of the House Paul Ryan (R-WI) answers reporters' questions during his weekly news conference at the U.S. Capitol October 26, 2017 in Washington, DC. Moments before Ryan conducted his news conference, the House passed a fiscal 2018 budget 216 to 212, beginning a process for the Senate to move forward on an overhaul of the tax code.  (Photo by Chip Somodevilla/Getty Images)
WASHINGTON, DC - OCTOBER 26:  Speaker of the House Paul Ryan (R-WI) answers reporters' questions during his weekly news conference at the U.S. Capitol October 26, 2017 in Washington, DC. Moments before Ryan conducted his news conference, the House passed a fiscal 2018 budget 216 to 212, beginning a process for the Senate to move forward on an overhaul of the tax code.  (Photo by Chip Somodevilla/Getty Images)

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    House Republicans unveil tax plan

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House Republicans unveil tax plan

House Speaker Paul Ryan described the proposal, which lowers the number of tax brackets from seven to four and increases the standard deduction, as a series of tax cuts and breaks aimed at helping most Americans. CNN's Phil Mattingly reports.

House Republicans unveil tax plan

House Speaker Paul Ryan described the proposal, which lowers the number of tax brackets from seven to four and increases the standard deduction, as a series of tax cuts and breaks aimed at helping most Americans. CNN's Phil Mattingly reports.