Rep. Jeb Hensarling (Texas), a conservative Republican who is the co-chairman of the deficit supercommittee, walked back a statement he made Tuesday on television, when he said Republicans “have gone as far as we feel we can go” by offering to raise $250 billion in new tax revenues.

Briefing reporters on Wednesday, Hensarling said Republicans would be “more than happy to negotiate” around a new offer from Democrats, pointedly declining to say whether $250 billion was the maximum in new revenue the GOP could accept.

“I’m waiting for the Democrats to put fundamental reform on the table,” Hensarling said…

Hensarling said Democrats must offer to seriously tackle entitlement spending before Republicans move off their principal public offer of $1.2 trillion in budget savings, with $250 billion in new net taxes.