GOP Rep. Price: Higher tax rates ‘doesn’t solve the problem’

Revenues in a "fiscal cliff" deal shouldn't come from higher tax rates on the wealthy, Rep. Tom Price (R-Ga.) said Sunday.

“We'd be happy to look at that if it solved the problem," Price said. "The problem is it doesn’t solve the problem.”

Price, appearing on CNN's "State of the Union," reiterated the GOP position that revenues in any deficit-reduction deal should come from closing loopholes and limiting deductions, rather than raising rates on top earners.

The White House and congressional lawmakers are negotiating a plan to avoid the looming rise in tax rates and automatic spending cuts set to take effect in 2013. But Democrats, including President Obama, have insisted on higher rates for those making more than $250,000 per year in any deficit-cutting deal.

"Tax increases to chase ever higher spending is a fool's errand,” Price said Sunday.

Price last week lost a bid for a spot in GOP leadership despite support from prominent conservative members, including Rep. Paul Ryan (R-Wis.).

Despite Price's resistance to tax increases, Sen. Dick Durbin (D-Ill.) said he still believes a deal is possible. 

Durbin on CNN said he has noticed  “a perceptible change in rhetoric” among Republicans since Election Day, which Democrats say delivered a clear mandate for Obama's plan to raise tax rates.

“That is the beginning of a negotiation,” Durbin said.