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House speaker says he'll consider tax increase

House speaker says he'll consider tax increase

CREATED Nov 7, 2012
WASHINGTON (AP) - House Speaker John Boehner is offering to pursue a deal with a victorious President Barack Obama that will include higher taxes "under the right conditions" to help reduce the nation's staggering debt and put its finances in order.
Boehner tells reporters a day after the president's clear re-election victory that those conditions include a revamped tax code to make it cleaner and fairer, fewer loopholes and lower rates for all.
He did not specify what loopholes House Republicans might consider. Boehner's comments are along the lines of proposals by vanquished Republican presidential candidate Mitt Romney that also were vague on specifics.
Still, Boehner's comments signaled a willingness to enter into talks. He suggested Congress could use its upcoming lame-duck session to get the ball moving on such a compromise.