Speaker Kevin McCarthy said Monday evening that his 90-minute meeting with President Biden did not yield an agreement on how to raise the debt ceiling, but said the talks were "productive" and said staff would continue to meet to find a way forward.
"I felt we had a productive discussion," McCarthy said outside the White House after his meeting. "We don’t have an agreement yet, but I did feel the discussion was productive in areas that we have differences of opinion."
An agreement is needed by early June if the government is going to be able to borrow more money to keep current spending obligations afloat.
U.S. Speaker of the House Kevin McCarthy (R-CA) speaks to reporters as he returns to the U.S. Capitol following a meeting with President Joe Biden and fellow congressional leaders on May 16, 2023 in Washington, DC. (Photo by Win McNamee/Getty Images) (Photo by Win McNamee/Getty Images / Getty Images)
Today's meeting was the first time this month that the speaker met with Biden without the Senate leaders in the room. Senate Majority Leader Chuck Schumer, D-N.Y., has been among Congress’ biggest critics of House GOP calls for spending cuts.
McCarthy said the tone of Monday evening’s meeting was "better than any other time we’ve had discussions."
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