House Majority Leader Eric Cantor and Senate Minority Whip Jon Kyl Suspend Participation in White House Debt Ceiling Negotiations

At ABC News, "Top Republicans Walk Out of VP Biden's Debt Talks":

Vice President Joe Biden's debt ceiling talks hit a brick wall Thursday after two key Republicans walked out in a dispute over the idea of raising taxes.

The departures of House Majority Leader Eric Cantor, R-Va., and Senate Minority Whip Jon Kyl, R-Ariz., Thursday morning left the formerly bicameral, bipartisan talks with no Republicans left at the negotiating table.

Cantor said the group had reached an "impasse" because Republicans oppose any and all tax hikes, while Democrats say they are a necessary in a balanced attempt at deficit reduction.

"As it stands, the Democrats continue to insist that any deal must include tax increases," Cantor said. "There is not support in the House for a tax increase, and I don't believe now is the time to raise taxes in light of our current economic situation. Regardless of the progress that has been made, the tax issue must be resolved before discussions can continue."

Also at Wall Street Journal, "Tax Dispute Stalls Debt Talks" (via Memeorandum).