Kevin McCarthy says debt ceiling talks making progress as June 1 deadline nears

From President Joe Biden, Speaker of the House Kevin McCarthy and Irish Taoiseach Leo Varadkar depart the U.S. Capitol after lunch in Washington, D.C. House negotiators are making progress toward an agreement with the White House to raise the nation's debt ceiling, racing to close out a deal ahead of a looming deadline to avert a potentially catastrophic government default, Republican Speaker Kevin McCarthy said Friday.

A person familiar with the talks said the two sides are "dug in" on whether or not to agree to Republican demands to impose stiffer work requirements on people who receive government food stamps, cash assistance and health care aid, some of the most vulnerable Americans. Biden will also be away this weekend, departing Friday for the presidential retreat at Camp David, Maryland, and Sunday for his home in Wilmington, Delaware. The Senate is on recess and will return after Memorial Day.

On work requirements for the aid recipients, the White House is particularly resisting measures that would drive Americans into poverty or take their health care, said the person familiar with the talks, who was granted anonymity to describe behind-closed-door discussions.

Pressure is bearing down on McCarthy from the House's right flank not to give in to any deal, even if it means blowing past the June 1 deadline.McCarthy said Donald Trump, the former president who is again running for office, told him, "Make sure you get a good agreement." Meanwhile, Fitch Ratings agency placed the United States’ AAA credit on "ratings watch negative," warning of a possible downgrade.

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