U.S. Senator David Vitter says he is very interested in a house colleague’s budget idea, but he says there is no way it will go anywhere in the Senate.

Wisconsin Congressmen Paul Ryan has a budget plan that would have two separate tax brackets.  His plan, according to the Wall Street Journal, would have one bracket where citizens would be taxed at a ten percent rate, and one bracket where citizens would pay twenty-five percent.  Ryan, the chairman of the House Budget Committee, says the plan would mean lower taxes for those who do earn enough money to put them in higher tax brackets.  He says it would also mean that there would be drop in the corporate tax rate.

The plan is backed by several folks including Vitter and Michelle Bachman.  Minnesota Republican Congresswoman Michele Bachmann has given her nod to Ryan’s plan.  The former GOP presidential candidate says she like the plan because it aims to cut spending, taxes, but help grow the economy.  Vitter says that he is in favor or Ryan’s plan to try to cut spending and taxes, but he just knows that there is no way that there would be enough votes in the U.S. Senate to pass.  Vitter says, " I like the broad outline of the Ryan proposal, and one significant feature is really fundamental tax reform, getting rid of almost all of the special interest loopholes and deductions".

To hear the full interview with Senator Vitter about this issue and his comments on the oil and gas industry click below: