Finance

Rep. Boehner rules out new taxes in budget talks

WASHINGTON (AP) — House Speaker John Boehner says a budget deal "won't happen" if Democrats keep insisting on more tax increases.

The Ohio Republican's remarks come as House and Senate negotiators are trying to find deficit savings to help pay for easing automatic, across-the-board budget cuts. Boehner says President Barack Obama "got his tax hike in January" when he forced through higher tax rates on upper-bracket earners.

The top Democratic negotiator, Sen. Patty Murray of Washington state, wants to close some tax loopholes and replace spending cuts as ways of smoothing the harshest automatic reductions. Boehner's position isn't new but comes as the pace of the budget talks appears to be quickening.

Related Headlines

Find the best rates

Find your future job here