Boehner Calls For Fiscal Cliff Down Payment

Says House Republicans will not accept tax hikes

The House speaker said Republicans would accept "new revenue" – but not higher tax rates – in a broader agreement next year.

House Speaker John Boehner (R-Ohio) on Wednesday called for "a down payment" on deficit reduction during the lame-duck session of Congress and said Republicans would accept "new revenue" – but not higher tax rates – in a broader agreement next year.