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As the House and Senate work on a reconciled tax bill, Speaker Paul Ryan discussed the legislation's benefits Wednesday with Dana Perino.

"We're very happy about this," Ryan said. "This is bigger than the Reagan [1986] tax reform."

Ryan said the House and Senate bills are not too different, so the reconciliation process won't be difficult.

He hoped to see a final product by Christmas Day, which will be sent to President Donald Trump for approval.

He said the law would let workers "see more money in their paychecks" because the withholding proportion will change for the better.

Ryan said such a move will encourage businesses to invest in their people and their people to invest themselves.

He dismissed low public approval for the tax plan, saying that President Reagan's bill had an 18 percent approval rating until the benefits were realized after passage.

Ryan also called out the media and pundits' "distortions" of the tax plan.

He said the coverage has "confused the public, but the results [will] speak for themselves."

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