House Speaker McCarthy Accepts President Biden’s Invitation to Discuss Debt Ceiling Increase at White House Meeting on May 9

The United States is facing a looming debt crisis, with the possibility of defaulting on its debt as early as June 1. In response, House Democrats have taken the first procedural steps to try to force a House vote on a clean debt ceiling increase.

House Speaker Kevin McCarthy, R-Calif., spoke with President Joe Biden and accepted his invitation to meet with the top four congressional leaders on May 9 at the White House to discuss how to avert a debt limit breach. This invitation was issued hours after Treasury Secretary Janet Yellen warned in a letter that the U.S. could breach the debt ceiling by June 1 if Congress doesn’t act in time.

In an effort to address the crisis, Democratic Rep. Jim McGovern of Massachusetts, the top Democrat on the House Rules Committee, introduced a special rule Tuesday that would allow Democrats to attach a clean debt ceiling increase to an unrelated bill introduced by Rep. Mark DeSaulnier, of California, in January.

The bill was referred to several committees for consideration, but it is unlikely to come to fruition. It is unclear at this time what action Congress will take to avert a potential debt crisis. However, President Biden and congressional leaders will meet on May 9 to discuss potential solutions.