Biden and McCarthy plan to resume debt ceiling talks on Tuesday
PRESIDENT Joe Biden, House Speaker Kevin McCarthy and other congressional leaders are planning to meet on Tuesday (May 16) to discuss budget negotiations to avoid a default.
Biden told reporters on Sunday in Delaware that he expects to meet McCarthy on Tuesday. A person familiar with discussions confirmed that the meeting is expected then but cautioned that it wasn’t finalised and could change.
Biden was tight-lipped about terms of the negotiation but said he believed a deal could be reached.
“I remain optimistic because I’m a congenital optimist. But I really think there’s a desire on their part as well as ours to reach an agreement and I think we’ll be able to do it,” he told reporters on Sunday in Rehoboth Beach, Delaware.
When asked about if he would support tougher work requirements as part of a deal, he said he’s supported some in the past. “For Medicaid, it’s a different story and so I’m waiting to hear what their exact proposal is,” he said, declining to elaborate.
The leaders were due to meet on Friday but postponed it as staff level talks continued throughout the weekend.
Biden is due to leave on Wednesday for a foreign trip that includes the Group of Seven and Quad summits. He said on Sunday he still plans to go.
Treasury Secretary Janet Yellen has warned that the US risks default as soon as Jun 1 if the debt limit isn’t suspended or raised. McCarthy has said any change to the limit is contingent on a budget deal; Biden has criticised Republicans for risking a default for leverage in talks. BLOOMBERG
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