President Obama and Senate Majority Leader Harry ReidHarry Mason ReidDems search for winning playbook Dems face hard choice for State of the Union response The Memo: Immigration battle tests activists’ muscle MORE (D-Nev.), along with Israel and other Democrats, quickly rejected BoehnerJohn Andrew BoehnerDems face hard choice for State of the Union response Even some conservatives seem open to return to earmarks Overnight Finance: Trump, lawmakers take key step to immigration deal | Trump urges Congress to bring back earmarks | Tax law poised to create windfall for states | Trump to attend Davos | Dimon walks back bitcoin criticism MORE's latest offer, which would permanently extend tax rates on income below $1 million.

Boehner called it a "Plan B" in the event that current negotiations continue past the deadlines at the end of the year, when current George W. Bush-era tax rates expire and mandatory spending cuts are implemented. The debate over extending the tax rates has centered on Republicans' push to extend all tax rates, and Obama's push to allow rates applying to families making more than $250,000 annually to expire. Boehner's latest offer actually differs substantially from past refusals to consider raising taxes at all.

But the White House said the offer is not good enough, arguing it would never pass the Democratic-controlled Senate. Obama "is not willing to accept a deal that doesn’t ask enough of the very wealthiest in taxes and instead shifts the burden to the middle class and seniors," the White House press secretary said of Boehner's plan. 

“After spending months saying we must ask for more from millionaires and billionaires, how can they reject a plan that does exactly that? By once again moving the goal posts, the president is threatening every American family with higher taxes,” Boehner's spokesman Brendan Buck fired back.