Boehner Proposes Millionaire Tax Hike

House Speaker John Boehner has proposed allowing tax rates to rise for the wealthiest Americans if President Obama agrees to major entitlement cuts, Politico reports.

“It is the first time Boehner has offered any boost in marginal tax rates for any income group, and it would represent a major concession for the Ohio Republican. Boehner suggested hiking the Bush-era tax rates for top wage earners, including those with annual incomes of $1 million or more annually, beginning Jan. 1.”