Reuters

The Business Roundtable, a group of the nation’s top CEOs, Tuesday urged lawmakers to consider raising taxes to avert the fiscal cliff, a shift for business leaders who had previously said they wanted all tax cuts extended for one year.

“We urge you to step forward and demonstrate that principled compromise is once again possible and that the American political system that underpinned the economic success of our nation and others can function as designed,” the group said in a letter to House and Senate leaders. A similar letter was also sent to the White House. The chief executives of Boeing Co., Dow Chemical Co., American Express Co. and other large businesses signed the letters.

The executives said a compromise on the fiscal cliff requires Congress “to agree on more revenue–whether by increasing rates, eliminating deductions, or some combination thereof.” Previously, in ads, press releases and letters the Business Roundtable said it wanted Congress to extend Bush-era tax cuts set to expire at year’s end to allow both sides time to overhaul the tax code…