tax revenues

Kentucky Sen. Mitch McConnell says he'll oppose efforts by the White House to raise any more tax revenue moving forward, telling ABC News the "tax issue is finished."

The Kentucky Republican's stance on the issue differs from calls by many Democrats--and even some House Republicans--to look at a major reworking of the U.S. tax code, including the closing of some provisions and raising new revenue.

The New York Times reports McConnell is focusing intently on spending cuts, saying President Obama should take the lead on future fiscal plans.