With the right approach, tax reform and infrastructure spending are possible areas of agreement for Republicans and President Barack Obama, House Budget Committee Chairman Tom Price told CNBC Tuesday, a day after the release of the White House's nearly $4 trillion budget.
"Modernization of our tax system, we've promoted that now for the last four years since we've had the majority in the House of Representatives," the Georgia Republican said in a "Squawk Box" interview.
The president's fiscal blueprint included a call for higher taxes on companies and the wealthy to boost middle-class Americans and the overall economy.
"These are the polices that got us the slowest recovery ever," Price said.
As part of his budget proposal, Obama wants a one-time, 14 percent tax on an estimated $2.1 trillion in profits piled up abroad over the years by U.S. multinational companies. The $238 billion raised would fund improvements to roads, bridges, transit systems and freight networks.
Price also cited infrastructure as an issue that could get both sides talking. "We've long believed that you have to prioritize spending for infrastructure in this country, not just maintenance but to expand capacity."
The key to bipartisan agreement, he said: "The president needs to be more than just, 'My way or the highway.'"