By Molly K. Hooper - 05/15/12 08:20 PM EDT
Speaker John Boehner (R-Ohio) on Tuesday vowed to only raise the debt ceiling if President Obama and Democrats agree to an equal amount of spending cuts and entitlement reforms.
Boehner also promised that no tax hikes would be a part of the package, and laid out plans for a fast-track process to guarantee tax reform would take place in 2013.
“This will give Congress time to work on broad-based tax reform that lowers rates for individuals and businesses while closing deductions, credits, and special carve-outs,” Boehner said.
Boehner made the politically charged remarks at the Peter G. Peterson Foundation on a day where the debate over the nation’s fiscal health dominated D.C.
The speech included several shots at Obama, whom Boehner said lacked the “courage” to lead on fiscal issues.
— This post was corrected on May 16 to reflect that Boehner's address was given at an event held by the Peter G. Peterson Foundation.