(CNN)–Republican congressional leaders Wednesday rejected President Barack Obama's call to include tax revenues as part of a deal to raise the debt ceiling.
Obama said at a White House press conference Wednesday that he's already made concessions to significantly cut spending for government programs. In return, he said, Republicans should now accept proposals to end corporate tax subsidies, such as those given to oil and gas companies or tax breaks for hedge fund managers.
The president tried to label Republicans as more interested in protecting special interests than getting a deal done before the U.S. defaults on its financial obligations later this summer. He singled out one tax break that gives corporations a deduction for buying company planes.
"You'll still be able to ride on your corporate jet. You'll just have to pay a little more." Obama said.
But House Speaker John Boehner flatly dismissed any proposal that would add revenues to a debt limit agreement.
"The president is sorely mistaken if he believes a bill to raise the debt ceiling and raise taxes would pass the House," Boehner said in a written statement.
Boehner repeated his position that any deal to up the nation's borrowing authority must include spending cuts greater than the amount the debt limit is raised, reforms to control spending over the long term and be "free from tax hikes."
"The longer the president denies these realities, the more difficult he makes this process," Boehner stated.
Utah Republican Sen. Orrin Hatch, the top Republican on the Finance Committee, criticized the president's push to raise revenue, saying it would hurt struggling businesses.
"With a fragile economy, tax hikes on our job-creators in the name of debt reduction is bad policy, especially since our debt crisis is fueled by unsustainable spending," Hatch said.
Republicans across Capitol Hill acknowledged that they could consider ending some corporate subsidies, but insisted that these should not be negotiated in a bill to raise the debt limit, but as part of a broader tax reform effort that would lower corporate tax rates.
As Obama called for GOP leaders to give up "sacred cows" to get a deal, he also leveled a direct slap at the GOP-led House for failing to remain in Washington to work on a debt deal.
"They're in one week. They're out one week. And then they're saying 'Obama's gotta step in ...' You need to be here. I've been here. I've been doing Afghanistan, bin Laden and the Greek crisis and you stay here," Obama said, adding, "Let's get it done."
The House follows a schedule of alternating its work weeks, with two weeks in session in Washington and one week back in congressional districts. A spokesman for House Majority Leader Eric Cantor, who sets the House schedule, pushed back, saying it's time for the president to show leadership. But he also indicated the House could change its schedule.
"It's time for the president to stop lecturing and start doing his job. As always, the House will be here if and when needed," Cantor spokesman Brad Dayspring told CNN.
But multiple GOP aides said the president's criticism of Congress was purely a political move, since the final parameters of any agreement are expected to be hammered out by a small group of top congressional leaders, including Boehner, Senate Majority Leader Reid and Senate GOP Leader Mitch McConnell. Those discussions don't require Congress to be in session.
After Obama's press conference, a senior Senate Democratic leadership aide told CNN that Democrats were discussing the possibility of cancelling their planned weeklong recess for the July 4th holiday. And a group of Senate Republicans led by freshman Ron Johnson, R-Wisconsin, called on Reid to keep the Senate in session next week.
"Our country is going bankrupt. We shouldn't be going home on a holiday," Johnson said. "So we're here today to say we should get back in session but not just to be in session; we need to come back in session in the United States Senate and actually start addressing the problem."
The House is scheduled to return to Washington next Wednesday.