House Republicans have kicked off the first of two planned closed-door meetings to consider the measure to avert the "fiscal cliff" that the Senate adopted early Tuesday.
A number of members heading into the meeting said they were eager to hear the presentation but were deeply uncomfortable with the measure.
Rep. Mick Mulvaney (R-S.C.) said the bill violates Obama's own pledge to present a "balanced deal."
"This raises taxes and raises spending," he said, indicating he will probably oppose it.
Rep. Steve LaTourette (R-Ohio), a Boehner ally and moderate, said he will urge his colleagues to amend the package.
"We should not take a package put together by a bunch of sleep-deprived octogenarians on New Year's Eve," he said.
But Rep. Tom Cole (R-Olka.), another Boehner ally, said he believed the bill will get enough GOP votes to pass, noting the strong support of Senate Republicans.