"We're going to move to Plan B," Boehner said. "Our Plan B would protect American taxpayers who make $1 million or less."
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That means, for the first time publicly, Boehner acknowledged he would be open to increased tax rates in a deal to avert the so-called fiscal cliff. Boehner said he hoped to avoid tax hikes on as many people as possible ahead of a Jan. 1 deadline. Boehner will meet with House Republicans later this afternoon to push support for the plan.
Boehner emphasized that he was not breaking off talks with President Barack Obama on a larger, "balanced" budget deal. But he expressed frustration with the White House's pace of negotiations.
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