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Obama Urges Congress to Approve Higher Tax Scale for the Rich

U.S. President Barack Obama says it is time the wealthiest Americans pay what he called their fair share in taxes.

During his weekly address Saturday, Obama urged Congress to vote in favor of the so-called "Buffet Rule" in a few weeks.

The plan, named for billionaire investor Warren Buffet, would increase taxes on people earning at least $1 million. Buffet has said it is not fair he pays a lower tax rate than his secretary.

The president says funding the tax breaks for the wealthy is not fair when middle class families are struggling to pay for necessities.

In the Republican address, House of Representatives Speaker John Boehner complained the Obama administration is not doing enough to increase oil and gas production on federal lands. He called for a freeze in new regulations on refineries.

Boehner also continued a Republican theme of blaming the administration for high gasoline prices.

Watch weekly Republican address:

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