That puts a major crunch time on both chambers of Congress. could run out of money to pay its bills as early as June 1. Treasury Secretary Janet Yellen has repeatedly warned lawmakers that the clock is ticking - the U.S. There have been signals that there are general areas where both parties would compromise on a potential deal - including $60 billion in unspent COVID-19 relief money and permitting reform - which would make both oil and gas projects as well as green energy projects happen more expeditiously.
"But it's possible there could be a few others, but not anything of any consequence."
"I'm not going to accept any work requirements that go much beyond what is already - what I - I voted years ago for the work requirements that exist," he said. Progressive Democratic lawmakers were concerned when Biden suggested last week there was a possibility he would consider that proposal. That provision is included in a bill House Republicans passed last month that addresses raising the debt limit. McCarthy has repeatedly said that including work requirements for able-bodied adults without dependents enrolled in federal safety net programs like food stamps is a must-have for his conference. The Biden administration and House Republicans have each doubled down on their own red lines while simultaneously blaming the other side for stymied progress and stressing the need to avoid defaulting on the nation's debt. The president cut the second half of the trip short so he could be back in Washington, D.C., for continued negotiations with congressional leaders.
#GET IT DONE TRANSPORTATION SERIES#
The face-to-face meeting follows a series of stops and starts to talks between designated negotiators for the two leaders since Friday - all while Biden was attending the G-7 summit in Japan. "We got to get something can sell both sides," he said. Given that Republicans hold a narrow margin in the House while Democrats hold a narrow margin in the Senate, Biden also said Monday that he and McCarthy would need to reach a deal that was acceptable to both parties. When asked about whether a deal can get through Congress by a June 1 deadline, McCarthy told reporters after the Monday meeting: "I believe we can get it done." Treasury Secretary Janet Yellen reiterated Monday that the nation could run out of money to pay its bills as early as that date.īiden said that at the "productive" meeting he and McCarthy "reiterated once again that default is off the table and the only way to move forward is in good faith toward a bipartisan agreement." He noted that while there are areas of disagreement, the pair, their lead negotiators and their staffs "will continue to discuss the path forward."
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