Debt Limit Meeting Between Biden and Republicans Delayed as Both Sides Seek Deal
President Biden and top congressional leaders agreed to postpone their next round of debt limit talks, which had been scheduled for Friday, until next week, a White House spokesman said on Thursday.
The decision to postpone the top-level meeting was described as a “positive development” by a person familiar with the decision, who said it would allow staff members more time to work toward an agreement before Mr. Biden and the congressional leaders meet again.
The delay comes as the United States inches closer to defaulting on its debt. The Treasury Department has warned that the government could run out of cash to pay all of its bills on time as soon as June 1.
This is a developing story. Check back for updates.