The top Republican in the U.S. House of Representatives, Speaker John Boehner, says he is abandoning efforts to reach a larger, comprehensive debt reduction deal with the White House.

In a statement late Saturday, Boehner said he had reached the compromise because the “White House will not pursue a bigger debt reduction agreement without tax hikes.” Both parties sought to reach a deal to reduce the federal deficit by $4 trillion over the next 10 years.

Boehner said he told President Barack Obama that instead he wants to pursue a smaller $2-trillion deficit reduction deal.

Republicans have been adamant that they will not support higher taxes. Instead, Boehner said negotiators should focus on deficit reductions identified by a bipartisan group led by Vice President Joe Biden.

Earlier, Mr. Obama said congressional Democrats and Republicans need to step out of their “comfort zones” and make the political sacrifices to meet the nation's fiscal challenges.

Also Saturday, the White House released a statement saying solving the country's “fiscal problems is an economic imperative.” White House Communications Director Dan Pfeiffer said President Obama plans to speak to congressional leaders Sunday and ask them to “reject the politics of least resistance.”