House Speaker John Boehner issued the following press release this evening regarding debt limit discussions with the White House: “Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes. I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase.” The AP has more here. James Pethokoukis pursues Steve Hayward’s Reykjavik analogy here. As I understand Boehner’s press release, the search for a comprehensive package including hypothetical budget cuts and real tax increases is for the time being at and end.
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