Speaker: House won't back deal with tax hike

July 11, 2011 3:35:08 PM PDT
Speaker John Boehner says he agrees with President Barack Obama that the nation's borrowing limit must be raised to avoid a government default but insists that House Republicans won't back any deal with tax increases. Talking to reporters shortly before a White House meeting, Boehner said there is a way to increase revenues without raising taxes. He embraced the idea of significant tax reform. But he said it can't be done without serious changes to the major benefit programs such as Social Security and Medicare.

He said Obama insists on raising taxes but the White House isn't serious enough about reforming entitlement programs.

Obama and congressional leaders are laboring to complete a deal to slash spending and raise the government's borrowing limit before an Aug. 2 deadline.


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