President Joe Biden spoke Monday with the Republican speaker of the House of Representatives, Kevin McCarthy, on extending the US national debt ceiling, and invited him to negotiate in person next week, the White House said.
Biden invited McCarthy, as well as the other chief Republican and Democratic leaders of Congress “to a meeting at the White House on May 9,” a brief statement said.
As head of the narrow Republican majority in the House, McCarthy has primary control over US budget issues. However, Biden has made clear he will not accept the speaker’s current proposal to allow extending the US debt limit only in exchange for deep spending cuts to programs that the Democrats say are vital for Americans.
The impasse has raised the possibility of Congress and the White House overseeing the first national debt default — something that would likely trigger a cataclysm in the US and global economies.
In calls Monday, Biden also invited Democratic House minority leader Hakeem Jeffries, Democratic Senate majority leader Chuck Schumer, and Republican Senate minority leader Mitch McConnell, the White House said.