House Speaker John Boehner said some members of the Republican caucus refused to back his tax measure because they didn't want to be accused of raising taxes.

Boehner spoke to reporters in Washington a day after he scrapped a plan to allow higher tax rates on annual income above $1 million, throwing already-stalled budget talks into turmoil.

It was "not the outcome I wanted, but it was the will of the House," Boehner said. "They were dealing with the perception that someone might accuse them of raising taxes."

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.