House Speaker Kevin McCarthy (R-Calif.) expects to bring a deal on raising the federal debt ceiling before the House next week, he told reporters on May 18.
The positive tone marks a change for the Speaker, who as recently the day before had refused to say he was optimistic about reaching an agreement with President Joe Biden on raising the debt ceiling, along with spending caps and other provisions demanded by Republicans.
McCarthy said negotiators are in a “much better place,” adding, “I can see now where a deal can come together.”
U.S. Senate Minority Leader Mitch McConnell (R-Ky.), House Speaker Kevin McCarthy (R-Calif.), and President Joe Biden meet with other lawmakers in the Oval Office of the White House on May 9, 2023. (Anna Moneymaker/Getty Images)
The negotiators—including Steve Ricchetti, counselor to the president, and Shalanda Young, director of the Office of Management and Budget, Rep. Garret Graves (R-La.), and unnamed members of McCarthy’s staff—are still in talks over the spending caps, and the amount and duration of an increase or suspension to the debt limit, according to McCarthy….