House Republicans are laying out their latest election year agenda item, a tax code so simple you can file on a post card.

FOX's Jared Halpern has more from Washington:

House Speaker Paul Ryan describes the tax proposal as simpler, flatter, fairer... Lowering tax rates across the board and a top tax bracket of just 33 percent, instead of the current near 40 percent rate:

(Ryan) "More than that, we want America to be the best place in the world to do business."

The proposal won't face a vote this year and isn't drafted legislation.

Instead, like other policy proposals from House Republicans, it serves as a template, they say can be implemented with the help of a Republican Congress and President.

In Washington, Jared Halpern, FOX News.

Follow FOX's Jared Halpern on Twitter: @JaredHalpern