McCarthy agrees to May 9 meeting with Biden to resolve debt ceiling standoff
House Speaker Kevin McCarthy has agreed to meet with President Joe Biden on May 9 to talk about how to resolve the debt ceiling standoff, just weeks before the federal government is expected to need a higher borrowing limit.
Two sources familiar with the matter told Fox News Digital that McCarthy spoke with Biden and agreed to meet a week from today.
The agreement to meet came hours after Treasury Secretary Janet Yellen told Congress that federal government will need to borrow more money to pay existing obligations by June 1.
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The same day Yellen issued that projection, the president invited all for congressional leaders for a meeting at the White House. House Republicans passed a bill last week aimed at raising the debt limit while also enacting deep cuts that are projected to slash discretionary spending levels by roughly $150 billion from fiscal year 2023 to 2024.
President Joe Biden and Senate Majority Leader Chuck Schumer have so far made clear that they will not entertain the legislation, and have insisted on a “clean” debt limit increase separately from conversations about spending cuts.
