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Biden, McCarthy plan to resume debt ceiling talks Tuesday

U.S. Speaker of the House Kevin McCarthy (R-California) and President Joe Biden meet with other lawmakers in the Oval Office of the White House on May 9, 2023, in Washington, D.C. Congressional lawmakers met with the president to negotiate how to address the debt ceiling before June 1, when U.S. Treasury Secretary Janet Yellen warned Congress that the United States would default on their debts. (Anna Moneymaker/Getty Images/TNS) (Anna Moneymaker/Getty Images North America/TNS)
By Billy House and Josh Wingrove Bloomberg News

President Joe Biden, House Speaker Kevin McCarthy and other congressional leaders are planning to meet Tuesday to discuss budget negotiations to avoid a default.

Biden told reporters 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 finalized and could change. Biden was tight-lipped about terms of the negotiation but 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 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 Friday but postponed it as staff level talks continued throughout the weekend. Biden is due to leave Wednesday for a foreign trip that includes the Group of Seven and Quad summits. He said Sunday he still plans to go.

Treasury Secretary Janet Yellen has warned that the U.S. risks default as soon as June 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 criticized Republicans for risking a default for leverage in talks.