Nancy Pelosi, the House Democratic leader, says any deal to avoid going off the "fiscal cliff" must include higher tax rates on the wealthy, reports The Hill. "Just to close loopholes is far too little money ... If it's going to bring in revenue, the president has been very clear that the higher income people have to pay their fair share," Pelosi said on ABC's "This Week".
President Barack Obama has suggested repeatedly since his reelection that in negotiations with Hill Republicans he'll push for a return to Clinton era tax rates on high-income earners. But he's not said it would be a deal-breaker.