On Monday, President Joe Biden and House Speaker Kevin McCarthy (R-CA) will meet to restart talks about raising the debt ceiling.
While Biden was returning to the United States from Japan on Sunday, McCarthy said the two leaders had a “productive” phone chat that led to the proposal for more in-person meetings.
The White House has verified that the two had a phone call on Sunday and made plans to restart conversations that had stalled before the weekend.
The White House and the Republican-led House have passed a bill raising the cap by $1.5 trillion in exchange for spending cuts and reforms, but time is running out for them to reach an agreement. Last week, Biden met with congressional leaders at the White House, highlighting the beginnings of a dialogue, but there had been little continuity in the talks by the weekend.
Biden was speaking at a press conference before leaving Japan. When asked about GOP negotiators, Biden stated that there are many things that the GOP refuses to entertain.
Before their meeting, the two men were urged to devise a compromise that “we can sell to both sides” of the hyper-partisan Congress. Some Democrats in Congress have urged Biden to consider a “Plan B,” but Republicans remain committed to working out a compromise with the White House.
McCarthy stated that the two groups would “come back together and work through the night” to develop a mutually acceptable agreement. He anticipates daily conversations with the president until we meet the deadline.
Biden said at the outset of a much-anticipated meeting that there are still some disagreements, but he thinks they may be able to get where they must go.
McCarthy was just as cautiously optimistic as Biden, saying he and Biden could find common ground, strengthen the economy, take care of debt, and, most importantly, get this government moving again to curb inflation.
The House is supposed to be off for the Memorial Day holiday, but McCarthy has promised to keep Congress in session as long as it takes to get a deal. He affirmed that the team would remain and continue working.