President Biden called the top four congressional leaders, including House Speaker Kevin McCarthy, to discuss raising the debt ceiling.
Biden’s calls came after Treasury Secretary Janet Yellen notified lawmakers on Monday that the US could default on its debt by June 1. Biden told the leaders – Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell, House Minority Leader Hakeem Jeffries and McCarthy – that he wants to discuss on May 9 the need to pass a clean bill to raise the debt ceiling.
” “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.
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