(WASHINGTON) -- House Budget Chairman Paul Ryan will release the latest version of his budget blueprint on Tuesday in an attempt to set the federal government on a course to balance annual revenue and spending levels by the year 2023.

Until now, the Wisconsin Republican and former GOP vice presidential nominee has never proposed a budget that balanced in a single decade.

Ryan will unveil the new plan at a news conference in the Capitol at 10:30 a.m. ET.  Ahead of the announcement, he penned an op-ed in the Wall Street Journal promoting his budget proposal, which he claims will cut the deficit by $4.6 trillion over the next 10 years.

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