Boehner: Extend Bush tax cuts for wealthy now, deal with tax reform later

For the third straight day, House Speaker John Boehner continued his media blitz on the so-called "fiscal cliff" and he once again made it clear that his most urgent priority is extending the Bush tax cuts for the wealthy when they expire at the end of this year.

Speaking about 90 minutes before President Obama will deliver comments on his agenda for economic growth and deficit reduction, Boehner said he hoped to deal with tax reform in 2013. "Over the summer, we passed a bill to extend all of the current tax rates  for one year so that we have time to overhaul our tax code," Boehner said. "2013 should be the year we begin to solve our debt through tax reform and entitlement reform," Boehner added, reiterating his call for lower tax rates.

Boehner didn't acknowledge the fact that the Senate has passed legislation extending tax rates for all but the top bracket, nor was he asked about it by reporters. Although Boehner embraced the House-passed legislation extending all rates, he didn't explicitly say he would hold middle-class tax cuts hostage'but he also gave no sign that he wouldn't.

Boehner also once again embraced supply-side revenue magic, saying his approach will lead to "a stronger economy, and a stronger economy means more American working and more revenues, which is what the president is seeking."

President Obama will offer his views on the path forward when he delivers a 1:05 PM ET statement from the White House. (We'll post live video and updates when that happens.)

9:26 AM PT: Boehner wants a full year delay of fiscal cliff so fed debt ceiling has to be raised again, giving Rs more bargaining power.
— @RBReich via web