Biden asks McCarthy and congressional leaders to attend White House meeting on debt limit

President Biden to Host Meeting on Debt Limit with Democratic and Republican Leaders

Get ready for some high-level discussions at the White House! President Joe Biden has invited the Democratic and Republican leaders to a meeting on May 9 to discuss the debt limit. This comes after Treasury Secretary Janet Yellen warned that the US could default on its debt as soon as June 1.

YELLEN WARNS US COULD DEFAULT ON DEBT AS SOON AS JUNE 1

Biden had previously rejected House Speaker Kevin McCarthy’s calls to meet on the debt limit and federal spending, but he reached out to McCarthy on Monday to ask for the meeting. The president will stress that Congress must take action to avoid default without conditions and will discuss the urgency of preventing default, as well as how to address the budget and fiscal year 2024 appropriations.

What You Need to Know

• The meeting will take place on May 9 at the White House.
• President Biden has invited the Democratic and Republican leaders to discuss the debt limit.
• Treasury Secretary Janet Yellen warned that the US could default on its debt as soon as June 1.
• Biden will stress that Congress must take action to avoid default without conditions.
• The president will also discuss how to address the budget and fiscal year 2024 appropriations.

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This is a developing story and will be updated with more information as it becomes available.