The Republicans outline their tax plan

House Republicans finally released a tax plan today. Speaker Paul Ryan told reporters the typical family of four will save $1,182. "With this this plan we are getting rid of loopholes for special interests and we are level playing field. So simple you can do your taxes on a form the size of a postcard."

Kevin Brady, Chair of the Ways and Means Committee, predicted that under the plan, "America will vault from 31st in the world among our [corporate] competitors to the top three among best places on the planet for that next new job." Reid Wilson, national correspondent for The Hill, says that perhaps even more controversial than the corporate tax cut is the proposal to limit deductions for state and local taxes.