UNITED STATES

McCarthy to meet next week with President Biden on debt ceiling

May 2, 2023, 8:30 AM | Updated: Jun 22, 2023, 4:50 pm

House Speaker Kevin McCarthy has accepted an invitation to meet with President Joe Biden on May 9 a...

US House Speaker Kevin McCarthy, a Republican from California, speaks during a news conference at the US Capitol in Washington, DC, US, on Wednesday, April 26, 2023. McCarthy squeaked his debt limit bill through the House winning a politically important victory that intensifies the standoff with the White House over averting a catastrophic US default. (Valerie Plesch/Bloomberg via Getty Images via CNN)

(Valerie Plesch/Bloomberg via Getty Images via CNN)

Originally Published: 02 MAY 23 05:19 ET
Updated: 02 MAY 23 05:51 ET

(CNN) — House Speaker Kevin McCarthy has accepted an invitation to meet with President Joe Biden on May 9 about the debt ceiling, according to a source familiar, setting the stage for a high-stakes moment in the debt ceiling standoff.

The president invited all four Congressional leaders to the meeting.

Biden’s calls came after Treasury Secretary Janet Yellen notified lawmakers on Monday that the US could default on its debt by June 1.

President Biden has not met with McCarthy since February.

The House passed a package to raise the debt ceiling by $1.5 trillion last week. The bill — which includes spending cuts, beefed-up work requirements in safety net programs and other measures that Democrats would not accept — has been described by Democratic Sen. Chuck Schumer as “dead on arrival” in the Senate.

Following the bill’s passage in the House, President Biden told reporters he would be “happy to meet with McCarthy, but not on whether or not the debt limit gets extended.” The White House has maintained that the president would only accept a clean proposal to raise the nation’s borrowing limit.

McCarthy responded to Yellen’s comments Monday in a statement that said, “The clock is ticking.”

“After three months of the Biden administration’s inaction, the House acted, and there is a bill sitting in the Senate as we speak that would put the risk of default to rest,” McCarthy said. “The Senate and the President need to get to work — and soon.”

This story has been updated with additional information.

The-CNN-Wire
™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

United States

An official ballot drop box is pictured outside of the Salt Lake County Government Center on March ...

Becky Bruce

Research: Threats, harassment of local officials up 55% since 2022

Princeton University's Bridging Divides Initiative performed the research with Civic Pulse, surveying local elected officials nationwide about their experiences with threats. 

2 hours ago

View of Salt Lake City pictured, governor is cracking down on denver sending immigrants to utah...

Aimee Cobabe

Utah governor’s office pushing back against Denver for bussing immigrants to Utah

Gov. Spencer Cox's office says that the City of Denver did not consult with them about sending immigrants to Utah.

5 days ago

SCOTUS ruling on mifepristone...

Kira Hoffelmeyer, Jessica Lowell

Utah reactions to SCOTUS ruling on mifepristone access

The SCOTUS ruling on mifepristone means the abortion pill will remain accessible to women.

7 days ago

FILE - Hunter Biden, son of President Joe Biden, speaks during a news conference outside the Capito...

Mariah Maynes

Jury deliberations begin in Hunter Biden trial

The jury has begun deliberating upon whether Hunter Biden is guilty of three federal firearms charges.

10 days ago

A child and two adults load things into a white truck....

Mariah Maynes

Today is Secure Your Load Day. So, what does that mean?

Secure Your Load Day is June 6. According to the Governors Highway Safety Association, it aims to raise awareness of the dangers unsecured loads.

14 days ago

hispanic businesses immigrants growth...

Don Brinkerhoff

Why there’s financial hope for Gen Z

We're living in financial stressful times, Gen Z has reason to be hopeful about their financial future.

20 days ago

Sponsored Articles

Underwater shot of the fisherman holding the fish...

Bear Lake Convention and Visitors Bureau

Your Bear Lake fishing guide

Bear Lake offers year-round fishing opportunities. By preparing ahead of time, you might go home with a big catch!

A group of people cut a purple ribbon...

Comcast

Comcast announces major fiber network expansion in Utah

Comcast's commitment to delivering extensive coverage signifies a monumental leap toward a digitally empowered future for Utahns.

a doctor putting her hand on the chest of her patient...

Intermountain Health

Intermountain nurse-midwives launch new gynecology access clinic

An access clinic launched by Intermountain nurse-midwives provides women with comprehensive gynecology care.

Young couple hugging while a realtor in a suit hands them keys in a new home...

Utah Association of Realtors

Buying a home this spring? Avoid these 5 costly pitfalls

By avoiding these pitfalls when buying a home this spring, you can ensure your investment will be long-lasting and secure.

a person dressed up as a nordic viking in a dragon boat resembling the bear lake monster...

Bear Lake Convention and Visitors Bureau

The Legend of the Bear Lake Monster

The Bear Lake monster has captivated people in the region for centuries, with tales that range from the believable to the bizarre.

...

Live Nation Concerts

All the artists coming to Utah First Credit Union Amphitheatre (formerly USANA Amp) this summer

Summer concerts are more than just entertainment; they’re a celebration of life, love, and connection.

McCarthy to meet next week with President Biden on debt ceiling