Paul Ryan "convinced" the popularity of the GOP tax plan will change

Paul Ryan on GOP tax bill
Paul Ryan on GOP tax bill 06:44

Speaker Paul Ryan on Wednesday rejected the idea that the Republican tax plan that Congress will soon deliver to President Trump's desk is more generous to corporations than individual taxpayers.

In an interview on "CBS This Morning," the Wisconsin Republican was asked if those people are wrong.

"Yeah, they are," Ryan said. "When it gets in place, when people see their paychecks getting bigger in February because withholding tables have adjusted to reflect their tax cuts, when businesses are keeping more of what they earn, when they can write off their spending and hire more people, that's going to change its popularity, I am convinced."

"So I think there's just tons of confusion out there as to what this does or doesn't do. A lot of people think it's going to raise their taxes. So the proof is in the pudding, and I think the results will speak for themselves," he added.

Paul Ryan on entitlement spending 01:37

Asked to weigh in on speculation that he would step down from his leadership position soon, Ryan said, "it's ridiculous."

"I see this as rank speculation among the D.C. beltway press, speculating these things," he said. "I think it was fairly irresponsible speculation, it's faulty speculation. I'm not going to get up and leave my conference and our responsibilities in the middle of this term. We've got so much more work do."

This comes after the House and Senate approved the tax plan on Tuesday. Before the bill is sent to Mr. Trump's desk, however, the House must vote on it again on Wednesday due to procedural issues that arose in the Senate.

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    Rebecca Shabad

    Rebecca Shabad is a video reporter for CBS News Digital.