Paul Ryan to unveil 2013 budget plan


Rep. Paul Ryan on Tuesday plans to unveil his 2013 budget proposal, which includes an overhaul of the tax code that would leave just two individual tax brackets: 10 percent and 25 percent.

"We think we need pro-growth economic policy," the Wisconsin lawmaker said in an interview on "CBS This Morning" ahead of the full unveiling later in the morning.

"One of the key degrees to economic growth is a tax system that's fair. Take away the tax shelters that high-income earners use in order to lower everybody's tax rates," said Ryan, who chairs the House Budget Committee.

Ryan's plan is unlikely to become law, but is intended to provide a simple message for Republicans in an election year.

In addition to removing the Alternative Mininum Tax, Ryan's plan would also revamp Medicare, the popular government program that provides health care to millions of seniors.

Ryan unveiled a similar program last year that was roundly criticized by Democrats. Ryan's plan would set up a system where younger Americans would get help from the government to pay for private insurance but the government would not pay for the health care directly.

Watch the full interview with Paul Ryan above.