Buffett Says US Corporate Taxes Likely to Rise to Tame Deficit

US taxes are likely to rise as lawmakers look to narrow the federal deficit, Warren Buffett said, as Washington prepares for major tax negotiations next year.

The Berkshire Hathaway chairman and chief executive officer, speaking Saturday at the company’s closely watched annual meeting in Omaha, sidestepped directly commenting on the partisan fight over corporate taxes taking shape. But he said his company will pay whatever the rate is, whether the current 21% or something higher.

“With present fiscal policies, I think that something has to give,” Buffett said. “Higher taxes are quite likely, and if the government wants to ...