President Joe Biden and Speaker Kevin McCarthy appeared no closer to an agreement on how to raise the debt ceiling after a nearly hour-long meeting Tuesday afternoon, their first since Feb. 1.
But despite the familiar rhetoric from both parties, Biden and congressional leaders plan to meet again on Friday, McCarthy said. And staffers from both sides of the aisle are preparing to meet to discuss how to bridge the partisan divide over spending curbs that Republicans want on Tuesday night, Democratic leaders said after White’s departure. House, where they met with Biden, McCarthy and the Senate. Minority Leader Mitch McConnell.
As the country faces running out of borrowing room and will not be able to pay all of its bills in time for June 1, both sides are still under pressure. demanded a concession.
“Everyone in this meeting reiterated their positions; I don’t see any new movement,” McCarthy said as he left the meeting. The speaker said that the House remains the only chamber to pass a bill that deals with the debt limit but that he understands that Republicans will have to give some ground to get a deal.
McConnell told reporters after the meeting that the US would not “default” on its debt. When asked the same question, McCarthy said that he can only control what the House does and that his chamber has already moved. House Republicans passed a bill last month that raised the debt limit in exchange for spending curbs and a slew of other Republican priorities.