Biden and McCarthy Are Scheduled to Meet as Showdown Over Debt Limit Enters Critical Week

President Biden and Speaker Kevin McCarthy (R-Calif.) are scheduled to meet at the White House on Monday as Washington enters a critical week in the debt ceiling showdown.

The meeting is taking place after talks paused — then resumed — on Friday, a sign that the two sides remain far apart on how to increase the borrowing limit. Biden and McCarthy spoke on the phone Sunday — which McCarthy called “productive” — and White House and Republican negotiators met later in the day to prepare for Monday’s meeting.

But with 10 days to go until June 1 — the date when Treasury Secretary Janet Yellen has said the U.S. could run out of cash — pressure is on lawmakers and the White House to come to an agreement on how to raise the debt ceiling.

Read the source article at thehill.com