Both House Speaker Kevin McCarthy (R-CA) and Senate Majority Leader Chuck Schumer (D-NY) are in better spirits regarding the debt ceiling ahead of the June 1 deadline that Congress faces.
McCarthy stated on Thursday that he has spoken to Schumer regarding how long it would take the House and Senate to pass a bill to avert defaulting on the nation's debt. He claimed it would take four days in the House and seven in the Senate. McCarthy also said it would be “important” to have an agreement “by sometime this weekend,” according to CNN.
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“We are not there, we haven’t agreed to anything yet, but I see the path that we can come to an agreement," the House speaker said when asked if reaching an agreement by then is possible.
"We have a structure now. I just believe where we were a week ago and where we are today is a much better place because we’ve got the right people in the room discussing it in a very professional manner with all the knowledge and all the background from all the different leaders and what they want," he added.
On the other side of Congress, Schumer has also expressed optimism regarding the handling of the debt ceiling, saying he is hopeful both Republicans and Democrats will come to an agreement "that keeps default completely off the table."
“I’m also pleased that the other side has recognized the best way forward is a bipartisan piece of legislation that can secure enough votes to get through both the House and the Senate," Schumer said on Thursday. "Partisan legislation just won’t produce the result we need.”
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Schumer's statements came on the same day he announced the Senate will move forward with its planned May recess, which will end on May 30. On Monday, a group of 14 House Republicans sent a letter to Schumer urging him to keep the Senate in session rather than go through with the recess while a deal on the debt limit is still not done.
In a recent poll asking respondents who was more to blame for the lack of agreement regarding the debt ceiling, 33% of respondents pointed to President Joe Biden, while 27% named House Republicans, 32% identified both, and 8% said neither.