With just three days left in which members of the House, Senate, and POTUS will be in Washington, DC, House Republicans are pressing Democrats to stay in town and work out a deal before the country defaults on its debt.
With just three days left in which members of the House, Senate, and President Joe Biden will be in Washington, D.C., at the same time before the Treasury Department exhausts its special measures to make debt payments, Republicans are trying to make the window a little larger. Biden and congressional leaders are set to meet at the White House at 3 p.m. on Tuesday before the president leaves for a G-7 meeting in Japan on Wednesday.
Simultaneously, Biden is set to attend the G-7 summit in Hiroshima, Japan, from May 19 to 21. He also has his first visit to Australia as president and the first-ever presidential stop to Papua New Guinea on the itinerary.“That’s my plan as it stands now,” Biden told reporters from Rehoboth Beach, Delaware, over the weekend.
On Monday, Treasury Secretary Janet Yellen reminded congressional leaders that her department will exhaust its"extraordinary" measures on June 1.Staff negotiators have been scrambling behind the scenes to cut a deal to avert the economic calamity. Biden has demanded a"clean" debt ceiling bill without any spending cuts attached. The White House maintains the two sides have had budget negotiations with debt limit considerations attached.
McCarthy has demanded a debt limit hike be paired with a dramatic reduction in spending. Last month, House Republicans passed the Limit, Save, Grow Act, featuring sharp cuts across the board and a $4.8 trillion deficit reduction over the next 10 years, per the Congressional Budget Office.
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