Paul Ryan: “What this bill does is it prevents a tax increase. Now, we have different philosophies and we have different ideas on…”

“What this bill does is it prevents a tax increase. Now, we have different philosophies and we have different ideas on how to keep America moving forward between Republicans and Democrats, the minority and the majority. What the majority is doing right here is they are waiving their own budget rules. They came in promising a new pay-as-you-go system, and here they go, as soon as the going gets tough, waive PAYGO. I find it interesting that never during the course of this debate this year did the majority ever propose to reduce spending to offset this. They only proposed raising taxes. But here we are on the eve of the end of the year, preventing 19 million additional taxpayers from paying this tax increase. Let's look at where we were at the beginning of this year. Speaker Pelosi: 'After years of historic deficits, this new Congress will commit itself to a higher standard: pay as you go.' The majority leader, and I think he will be consistent and vote against this particular bill: 'Our budget strictly adheres to the pay-as-you-go budget rules that were reinstated in January by the new majority.' Our distinguished chairman of the committee: 'You've got to offset those tax cuts.' So on and so forth. Well, here we are and we are going to pass this by waiving PAYGO. Now let me make it very clear, I disagree with the majority's PAYGO. The majority's PAYGO says let's just keep raising taxes.”