Politicats reddit6/26/2023 ![]() House Republicans passed legislation to raise the debt ceiling back in April. “The speaker presented his case to the president back in February. Tuesday’s meeting was originally scheduled for last week, but both sides decided to postpone in order to give the staff-level talks space to proceed.Īhead of the White House meeting McConnell criticized Biden for only scheduling two meetings with McCarthy and other congressional leaders in recent months as the pressure for resolving the debt ceiling crisis has increased. “We all agreed that over the next few weeks, we have to proceed with the fierce urgency of now in order to make sure we can reach that bipartisan common ground agreement so that we can protect the health and safety and economic well-being of the American people,” House Minority Leader Hakeem Jeffries said. He said that McCarthy also agreed the bill needed to be bipartisan. Senate Majority Leader Chuck Schumer said the leaders agreed that they “need to pass a bipartisan bill with bipartisan support in both chambers” in order to raise the debt limit. McCarthy also told reporters it is “possible” to get a deal by the end of the week but said that he and the White House are still very far apart in negotiations.ĭemocratic leaders said everyone in the room agreed that default is not an acceptable option, marking a shift from last week, when McCarthy appeared to refuse to take default off the table. But he added that “policy differences between the parties should not stop Congress from avoiding default.” The president also took a swipe at Republicans, saying it’s “disappointing” that Republicans are unwilling to discuss raising revenues. McCarthy said the difference in the process now is they have they “have a format, a structure.”Īt a Jewish American Heritage Month event at the White House Tuesday evening, Biden called the meeting with congressional leaders “productive” and said he is “confident” they will “continue to make progress toward avoiding default.” He added there was “an overwhelming consensus” in the meeting that “defaulting on the debt is simply not an option.” Garret Graves and the speaker’s staff will negotiate with Office of Management and Budget Director Shalanda Young and White House aide Steve Ricchetti going forward on the debt limit. While a deal hasn’t been reached, talks are now getting more direct between House Speaker Kevin McCarthy’s team and the White House.Īfter Tuesday’s meeting, McCarthy announced Louisiana Republican Rep. ![]() Time is running short to raise the borrowing limit ahead of June 1, which is the earliest date the Treasury Department says the government could be unable to pay its bills. And in a sign that Biden will have to be hands-on as debt talks continue, the White House has scrapped part of his upcoming trip abroad. Congressional leaders from both parties emerged from their meeting with President Joe Biden at the White House on Tuesday unable to convey how they’re on a clear path to raise the nation’s borrowing limit and avoid a historic default.
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