Washington (CNN) - House Democratic leader Nancy Pelosi is ruling out any budget deal that does not include new tax revenues.
She was responding to a report on Wednesday in the Wall Street Journal that said President Barack Obama has signaled he wouldn’t insist on that condition.
"Our position is that we are going to the table in order to reduce the deficit, grow the economy, create jobs, end the sequester - revenue needs to be on the table," Pelosi said when asked by CNN about the report.
The article said Obama indicated in discussions with Senate Republicans that he could support a proposal to eliminate some of the forced sequester spending cuts, even if they were paid for without tax increases. Senate Republicans suggested the President was open to using savings from changes to entitlement programs, such as agriculture subsidies.
For the first time in four years a bicameral bipartisan budget conference committee met Wednesday to work on a fiscal blueprint to address federal spending levels.
Pelosi argued any proposal addressing the budget has to be comprehensive.
"If you're not going to have revenue who's going to pay? Granny on Medicare? That's not something we can accept," Pelosi said.
She isn't the only top Democrat closing the door on a fiscal deal without new revenues.
Senate Majority Leader Harry Reid was asked on Tuesday if he would consider such an agreement and he said, "No."
The budget committee session in the Capitol lasted two and a half hours, but the meeting consisted mostly of House and Senate members on the panel restating their positions.
Many of them urged Congress to compromise, but there was no back and forth about any potential agreement.
The chairman of the panel, House Budget Committee Chairman Paul Ryan, announced the committee won't meet in another open session for two weeks, stating that both chambers aren't scheduled to be in Washington at the same time until then.