House Speaker Kevin McCarthy tweeted Friday that he has an accepted an invite from President Biden to fulfill and talk about, amongst different issues, an answer to addressing the debt ceiling.
The White House has beforehand mentioned there could be no negotiations with Republicans on the debt ceiling, that there have to be a clear improve to the debt restrict, that’s, with out circumstances connected. Still, White House press secretary Karine Jean-Pierre mentioned in a briefing Friday that the president “is looking forward to meeting with Speaker McCarthy” about subjects together with the debt ceiling.
“President Biden: I accept your invitation to sit down and discuss a responsible debt ceiling increase to address irresponsible government spending,” McCarthy tweeted Friday afternoon. “I look forward to our meeting.”
Later Friday, Jean-Pierre issued a press release emphasizing that no date has but been set for a gathering.
“President Biden looks forward to meeting with Speaker McCarthy to discuss a range of issues, as part of a series of meetings with all new congressional leaders to start the year,” Jean-Pierre mentioned. “Like the president has said many times, raising the debt ceiling is not a negotiation; it is an obligation of this country and its leaders to avoid economic chaos. Congress has always done it, and the president expects them to do their duty once again. That is not negotiable.”
Treasury Secretary Janet Yellen introduced the nation reached its borrowing restrict on Thursday, and estimated the federal authorities can use “extraordinary measures” to keep away from a crippling credit score default till about June.
Many Republicans like McCarthy need an settlement on reducing federal spending earlier than supporting a debt restrict improve. Congress suspended the debt ceiling thrice beneath former President Trump.
Senate Minority Leader Mitch McConnell mentioned this week he believes the debt ceiling must be addressed within the first half of this 12 months.
Mr. Biden was former President Barack Obama’s chief emissary throughout negotiations on the debt ceiling in 2011. Ultimately, Congress and the White House reached a deal and elevated the debt ceiling in August of that 12 months.
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