In somewhat of a surprise, Rep. Paul Ryan won reelection Tuesday with the lowest margin of his career, claiming just under than 55 percent of the vote in the Republican vice presidential candidate's southern Wisconsin district. President Obama won Rock County, Ryan's home, with more than 60 percent of the vote. With three terms under his belt as Budget Committee chairman or ranking member, Ryan would need a waiver from House Speaker John A. Boehner (R-Ohio) to maintain that gavel. Most GOP insiders expect he will be granted the waiver.

Ryan gave a short statement to the media Wednesday morning on GOP presidential nominee Mitt Romney's defeat and his own reelection:

I am immensely proud of the campaign we ran, and I remain grateful to Governor Romney for the honor of being his running mate. I look forward to spending some time with my family in the coming days and then continuing my responsibilities as chairman of the House Budget Committee and representative of Wisconsin's First Congressional District.