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Pelosi: No deal without higher tax rates on the wealthy

House Democratic Leader Nancy Pelosi said Sunday she could not accept a deal on the “fiscal cliff” that does not include higher tax rates on the wealthy.

Republicans say new revenues in the fiscal-cliff deal should come from capping deductions and closing loopholes, while Democrats want to raise rates on families making more than $250,000 per year.

Pelosi gave a flat “no” when asked on ABC’s “This Week” whether an agreement that doesn’t include tax increases on the wealthy would be acceptable.

“Just to close loopholes is far too little money … If it’s going to bring in revenue, the president has been very clear that the higher income people have to pay their fair share,” Pelosi said.

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