Former Florida governor Jeb Bush (R) said Monday that revenue increases could be a part of a budget deal with President Obama, provided the president is willing to do big things to get the deficit under control.

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During an appearance on NBC's "The Today Show," Bush said it’s not the time to talk about increasing taxes after what he called the biggest tax hike in American history two months ago following the fiscal cliff deal. But he also wouldn’t rule out the idea that revenues could be part of a package -- something Republicans in Congress have said is off the table.