WASHINGTON House of Representatives Speaker John Boehner said on Tuesday that debt-reduction talks will be "fruitless" as long as President Barack Obama continues to call for closing $400 billion in tax breaks as part of the deal.
"The legislation that the president has asked for, which would increase taxes on small businesses and destroy more American jobs, cannot pass the House," Boehner said in a prepared statement. "I'm happy to discuss these issues at the White House, but such discussions will be fruitless until the president recognizes economic and legislative reality."
Boehner and other congressional leaders are expected to meet with Obama at the White House on Thursday.
(Reporting by Andy Sullivan; Editing by Philip Barbara)