Boehner Floats Millionaire Tax Hike

Could this be a workable compromise? House Speaker John Boehner has reportedly said he would agree to a hike in tax rates for the wealthiest Americans if President Obama gives in to big entitlement cuts, according to several sources. The proposed deal would raise Bush-era tax rates for top earners, in exchange for a slower-growing Medicare and other health programs. Obama and Boehner spoke via phone on Friday and have been talking regularly, which hints that progress could be advancing in the fiscal cliff negotiations.