WASHINGTON (March 6, 2013)—U.S. Rep. Paul Ryan, R-Wis., the chairman of the House Budget Committee, says that the balanced-budget blueprint he’ll release next week will look a lot like the plan Republicans passed last year.
Ryan said the measure with project a balanced federal budget by the end of a decade and that it will take only "modest changes" to last year's GOP plan to reach that balance, in part because tax hikes enacted in January make the job easier.
The plan by the GOP vice presidential nominee is expected to include cuts to agency budgets, food stamps and Medicaid and to contain a controversial proposal to turn Medicare into a voucher-like program for seniors younger than 55.
Ryan said it will take relatively small additional spending cuts beyond those proposed last year to demonstrate balance.