Rigell said that Republicans need to accept a raise in taxes during budget talks.
"Revenues have to come up a bit because it's a conservative principle that one generation pays for the goods or services that it benefits from," he told The Hill.
While Rigell is willing to raise taxes, he is not optimistic about Congress' ability to draft a comprehensive budget.
“We can pass a bill with 233 Republicans, thump ourselves on the chest ... but nothing gets done,” he said. “Going on without a solution in this Congress is not an option ... time is working against us.”