House Speaker Kevin McCarthy to meet with President Joe Biden on debt limit: 'The clock is ticking'

While Republicans have passed a debt limit plan, the bill is unlikely to pass in the Senate, creating a clash between parties.House Speaker Kevin McCarthy will meet with President Joe Biden on May 9 to discuss the debt limit, a source familiar told USA TODAY early Tuesday.

"After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government's obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time," she said in a statement Monday.

"Today’s vote also sends a clear message to President Biden – continuing to ignore the problem is not an option. The President must come to the table to negotiate," McCarthy said on April 26. McCarthy, who is leading a congressional delegation in Israel this week, said Biden has"refused to do his job" while"the clock is ticking."– and the debt limit be increased without conditions as it has been under past presidents, including Donald Trump.

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