Try BlazeTV for Free

Nancy Pelosi Vows: No Budget Deal Without Tax Hikes for the Wealthy

"Have to pay their fair share."

House Minority Leader Nancy Pelosi (D-Calif.) vowed there will be no deal to head off the coming "fiscal cliff" that does not include raising tax rates on the wealthy.

Pelosi said she's optimistic a deal can be reached but won't agree to merely closing tax loopholes or capping deductions without raising taxes on top earners.

"Just to close loopholes is far too little money," Pelosi told ABC's "This Week" in an interview aired Sunday. "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.”

The year-end deadline will trigger more than $600 billion in automatic spending cuts and tax increases unless Congress can reach a budget deal.



One last thing…
Watch TheBlaze live and on demand on any device, anywhere, anytime.
try premium
Exclusive video
All Videos
Watch BlazeTV on your favorite device, anytime, anywhere.
Try BlazeTV for Free
Daily News Highlights

Get the news that matters most delivered directly to your inbox.