Senate Majority Whip Dick Durbin (D-Ill.) repeated Democrats' call to increase tax rates for the wealthiest Americans on Sunday, while House Majority Whip Kevin McCarthy (R-Calif.) expressed his opposition to such a move.

"It doesn't solve the problem. If the president is asking for higher rates, he's asking for more revenue. Most economists agree the best way to get that is through closing special loopholes," said McCarthy on NBC's "Meet The Press."

Durbin disagreed, arguing: "If you don't increase tax rates on the highest two percent of income earners, you cannot generate enough revenue to have meaningful deficit reduction.”

The two spoke as Republicans and Democrats have yet to reach an agreement over how to avert the looming "fiscal cliff" that will hit the nation on Jan. 1.