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Boehner abandoning effort for $4 trillion in deficit reductions, will seek $2 trillion deal
WASHINGTON (AP) ' House Speaker John Boehner has informed president Barack Obama that he wants to pursue a smaller $2 trillion deficit reduction deal, not the larger effort sought by the White House.
Boehner said the White House wanted tax increases in a deficit reduction deal of as much as $4 trillion over 10 years.
Republicans have been adamant that they would not support higher taxes. Instead, Boehner said negotiators should focus on deficit reductions identified by a bipartisan group led by Vice President Joe Biden.