BACKING DOWN? Speaker John Boehner:

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.

Now is not the time to back away, Mr. Speaker. If we must risk default in order to get spending under control, then we must do it. Tax changes must wait for a later day.