McCarthy to Meet With Biden on Debt Ceiling

By Newsmax
Posted on 05/02/23 | News Source: Newsmax

House Speaker Kevin McCarthy, R-Calif., will meet with President Joe Biden on May 9 to discuss raising the debt ceiling after Treasury Secretary Janet Yellen warned that the United States could default on its debts as soon as June 1, CNN reported Tuesday.

According to the report, Biden called the four Congressional leaders, including McCarthy, on Monday requesting a meeting after Yellen notified lawmakers about the looming potential debt default.

Biden and McCarthy have not met since February even as House Republicans passed a bill last week that would raise the debt ceiling by $1.5 trillion but includes spending cuts and add work requirements to welfare programs that Democrats oppose, the report said.

Senate Majority Leader Chuck Schumer, D-N.Y., called the GOP bill "dead on arrival" in the upper chamber.

"After three months of the Biden administration's inaction, the House acted, and there is a bill sitting in the Senate as we speak that would put the risk of default to rest," McCarthy said in the report. "The Senate and the president need to get to work — and soon."

Biden said after the legislation passed that he would be "happy to meet with McCarthy, but not on whether or not the debt limit gets extended."