Paul Ryan's tax plan collapses the current six income tax brackets into two broader brackets. This would mean lower tax rates for those in the top three brackets who earn the most income, while one bracket near the bottom would also see lower taxes. However, overall tax revenue would decrease significantly since Ryan does not specify which loopholes and exemptions would be closed to offset this loss of revenue. When asked, Ryan did not offer any details on which loopholes would be eliminated. The document argues this plan would slash government revenue and force large spending cuts.