So says my AEI colleague Alex Brill, in a new paper.

From the abstract:

Earlier this year, Speaker of the House Paul Ryan and House Ways and Means Committee Chairman Kevin Brady released a tax reform framework titled, “A Better Way: A Pro-Growth Tax Plan for All Americans.” The plan outlines House Republicans’ priorities for reforming the Internal Revenue Code. Unlike the legislation introduced by Ways and Means Chairman Dave Camp in 2014, the Ryan/Brady proposal is framed as a concept rather than a bill. Nevertheless, most components of the plan are described in sufficient detail to be analyzed and discussed. The new plan is a clear departure from the budget-busting proposals advanced by Republican presidential candidates over the past year and reflects a coherent approach to lowering statutory tax rates; maintaining a progressive income tax; and dramatically reducing the marginal tax rate on new investment, a reform likely to spur a substantial increase in new investment.
The plan will simplify compliance with the tax code by increasing the number of filers choosing not to itemize their deductions. The individual income tax reforms approach revenue neutrality at the end of the budget window.

You can read the entire paper here. Mr. Brill summarizes the Ryan-Brady plan’s key provisions, analyzes its key components, estimates the budgetary impact of its individual income tax provisions, and presents some great graphs, like the one above.