President Biden and House Speaker McCarthy Agree to Meet on Debt Ceiling Negotiations

President Biden and House Speaker Kevin McCarthy have agreed to meet on May 9 after a series of refusals to negotiate on the debt ceiling. The Treasury Secretary Janet Yellen warned Congress that the debt ceiling could be reached as early as June 1, and Democrats have urged Biden to head to the negotiating table with Republicans after a GOP-led bill passed in the House of Representatives.

Although Biden has vowed to veto the bill, some Democrats expressed their concerns about the inability to work in a bipartisan way and urged the president to sit down and negotiate with Republicans. Representative Jared Golden also voiced his frustration about the political games between the White House and Speaker McCarthy.

With limited time to come to an agreement, many Democrats privately urged a meeting between Biden and McCarthy, and now that a meeting is scheduled, lawmakers could make compromises and tweaks to the bill that could be supported by both parties. Increasing the debt ceiling is the one bipartisan consensus that has been adopted thus far.