Paul Ryan: “That's right. And what the majority is basically proposing is they are going to deem this budget resolution. They are…”

“That's right. And what the majority is basically proposing is they are going to deem this budget resolution. They are going to simply say that this is the resolution that we deem to be the case, and this is how we are going to manage the fiscal affairs of this Congress in this session. So we're planning on a big tax increase, and we're expecting it to happen because this is our plan, and now we're going to start spending the money. And I want to be fair to my colleagues on the other side of the aisle. They did bring a budget to the floor that does balance the budget. It does reach a balanced budget by 2012. The way and the method that it reaches a balanced budget by 2012 is this $683 billion tax increase. They only increased spending by $280 billion. But they increased taxes by $683 billion. So by raising taxes even more than all their spending increases, they are actually hitting a balanced budget. But take a look at who gets affected by this. I mentioned the actual tax policy that they're proposing with their big tax increase to fund some of their spending increases and to actually hit a balanced budget. But let me just say who is going to actually be affected in America by this. One hundred sixty million taxpayers will see an average increase of more than $1,800 per year, $3,000 per taxpayer in Wisconsin, more than 6 million low-income individuals and couples who currently pay no income taxes will no longer be exempt.”