1. Speaker of the House Paul Ryan stands behind Majority Whip Steve Scalise
2. SOUNDBITE (English): Rep. Paul Ryan Speaker of the House:
"No.Obviously, markets are going to react when new news and information like this occurs. I believe the markets will eventually stabilize. That's point number one. Point number two. All the more reason for America to lead. America needs the lead. The world wants America to lead and with tax reform plan America will clearly be leading and on so many ways by having a code, the Ways and Means committee, they had to make a decision. Stick with the current system and get it so it's in the middle of the pack with the rest of the world or do we have a plan that leapfrogs and leads the rest of the world. This is a plan that leapfrogs and leads the rest of the world. And so for all of these moments of possible uncertainty that are happening around the globe having strong, powerful, confident American economic leadership is in need and this does that."
3. Ryan stands behind Scalise.
4. Cutaway of photographers
5. Wide of Ryan at podium
6. SOUNDBITE (English): Rep. Paul Ryan Speaker of the House:
"Well sure. The question is about the Brexit vote. I do believe. Look. As an American we value the principle of sovereignty, self-determination, a government by consent and limited government. These are very important principles and these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles. Let me just say since you're going off the tax script, I'll go off it with you just for this moment Deirdre, England is our indispensable ally. Our friends in the United Kingdom are our indispensable ally and this is a very special relationship and that's going to continue no matter what. Period. End of story."
House Speaker Paul Ryan appeared to back the vote of Britain to leave the European Union.
Friday he highlighted the Republican values of sovereignty, self-determination, a government by consent and limited government, adding, "these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles."
The comments came as House Republicans unveiled a plan for a simpler tax code, the sixth and last installment of a GOP agenda designed to be a policy counterpoint to the personality-driven campaign of Donald Trump.
Ryan and other Republicans announced the plan at a news conference Friday morning. The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.
Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.
The Ryan plan also lacks the detail required to measure whether it maintains the current distribution of the tax burden by income range.
The plan won't face a vote this year but, like other elements of Ryan's agenda, provides a template for potential action next year.