WASHINGTON—House Speaker Paul Ryan (R-WI) spoke at the White House following congressional passage of the conference report to H.R. 1, the Tax Cuts and Jobs Act. Below are his remarks.

“First of all, what this represents is a promise that each and every one of us made to the American people last year is a promise that is kept today.

“Something this big, something this generational, something this profound could not have been done without exquisite presidential leadership. Mr. President, thank you for getting us over the finish line. Thank you for getting us where we are.

“I just quickly want to say a thanks because this has been such a team effort from everybody. I want to thank Gary Cohn and Steve Mnuchin from the president’s economic team for what they did to get us here.

“I want to thank my partner, Mitch McConnell, over in the Senate for getting us to where we are. And I want to thank these two chairman, Orrin Hatch and Kevin Brady, thank you so much for your leadership on this.

“It is really simple. The message to the hardworking taxpayers of America is ‘your tax relief is on its way.’ That is what’s happening here. The message to the families in America who have been struggling paycheck-to-paycheck is ‘your tax rates are going down and your paychecks are going up.’

“This is the kind of relief that Americans deserve. This is the kind of tax reform and tax cuts that get our economy growing to reach its potential. This gets us better wages, bigger paychecks, a simpler tax system. This gets the American economy competitive in the global economy.

“This is one of the most important things we could do for all of the people we represent. This is generational and we are so excited that we are going to launch next year this fantastic tax reform—so the American people can see how we can truly reach our economic growth and our economic potential.

“And if it weren’t for all the leadership of the men and women up here, this would not have been made possible.

“But lastly, I just want to thank the American people. I want to thank the American people for putting their trust in us, for giving us this chance and this ability to make this moment possible. Thank you very much.”