President Biden and House Speaker Kevin McCarthy (R-Calif.) are scheduled to convene on Monday for ongoing discussions regarding the debt ceiling.
According to a pool report upon his return to the White House, President Biden stated on Sunday night that his phone conversation with McCarthy regarding the debt ceiling, which took place while he was returning from the G7 summit in Japan, was positive.
McCarthy, earlier in the evening, characterized the call as fruitful, Axios reported.
Following President Biden’s critique of House Republicans’ debt ceiling proposal earlier on Sunday, he urged them to abandon their uncompromising stances.
Speaking from Hiroshima, Japan, on the final day of the G7 summit, Biden deemed much of the Republican proposal as unacceptable. Republicans are aiming for a debt ceiling agreement that involves reducing government spending.
While expressing his willingness to make spending cuts, Biden also emphasized the importance of considering tax revenues.
Notably, House Republican negotiators rejected a Friday offer from the White House to freeze government spending in the 2024 budget as part of a debt ceiling agreement.
Previously, Biden had mentioned the possibility of invoking the 14th Amendment to raise the debt ceiling without congressional approval.
On Sunday, he asserted that he believes he possesses the necessary authority to take such action.