Washington (CNN) -- The wealthy will account for more tax revenue, House Speaker John Boehner said Wednesday, while challenging President Barack Obama to sit down with him to hammer out a deal for avoiding the fiscal cliff. "We have got to cut spending and I believe it is appropriate to put revenues on the table," Boehner told reporters on Wednesday. "Now, the revenues that we are putting on the table are going to come from guess who? The rich." He continued, "There are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy."
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NEW: Obama and Boehner talk by phone but don't reach any agreement, source says
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House Republicans implore Obama to negotiate
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Obama insists on holding down tax rates for all but the wealthy
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Without a deal, everyone's taxes go up in January and spending gets cut
While the @placeholder gave ground by calling for more revenue through tax reform, the plan only mentioned unspecified elimination of some deductions and loopholes.