Speaker Kevin McCarthy (R-CA) will meet in person with President Joe Biden on Monday to discuss raising the debt ceiling after a “productive” phone call on Sunday.
After negotiations between Biden and McCarthy’s negotiating teams hit an impasse late last week, the two had a conversation while Biden was aboard Air Force One heading home from the G-7 Summit in Japan to talk about where the two parties currently stand.
BIDEN TARGETS TAXES IN DEBT CEILING TALKS: ‘REVENUE IS NOT OFF THE TABLE’
The team of negotiators will meet sometime on Sunday to continue their talks as well. The team is made up of Representatives Garret Graves (R-LA) and Patrick McHenry (R-NC), who represent McCarthy, and Shalanda Young, director of the Office of Management and Budget, and Steve Ricchetti, senior adviser to the president, who represent Biden.
The country is set to default on its debt on June 1, according to Treasury Secretary Janet Yellen, giving Congress and the White House 11 days to come to an agreement and pass a bill to raise the debt ceiling.
This is a breaking news story and will be updated.
