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Wisconsin Congressman Ryan: Compromise on taxes, spending possible

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WASHINGTON D.C. (WTAQ) - House Budget Chairman Paul Ryan of Janesville says a compromise is possible on federal taxes and spending – even though Democrats are sure to reject the new budget he’ll submit Tuesday.

The Republican Ryan said on “Fox News Sunday” that the two parties might be able to agree on less dramatic steps to narrow the budget deficits in the coming years. He said, “There are things we can do that don’t offend either party’s philosophy, that doesn’t require someone to surrender their principles, that make a good down payment on getting this debt under control.”

For now, though Ryan plans to submit a 2014 budget blueprint to his Republican House majority with the same types of measures rejected by President Obama and Senate Democrats the past two years.

They include a repeal of the Obama health reform package, and cuts in Medicare benefits by converting to a voucher system for seniors who are now 54 and younger.

The GOP-controlled House is expected to endorse Ryan’s plan for a third straight year.

The Democratic majority in the Senate okays its own budget blueprint to reduce tax breaks for the wealthy, and keep spending on safety net programs unchanged.

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