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The second round of debt-ceiling talks between the White House and congressional leaders appears set for Tuesday, President Joe Biden said Sunday.
โI remain optimistic because Iโm a congenital optimist,โ Biden told reporters Sunday in Rehoboth Beach, Del. โBut I really think thereโs a desire on their part as well as ours to reach an agreement. I think weโll be able to do it.โ
When asked about progress of the negotiations, Biden said: โI think they are moving along, hard to tell. We have not reached the crunch point yet.โย
NBC News and Bloomberg News first reported Sunday that Biden, House Speaker Kevin McCarthy, R-Calif., House Minority Leader Hakeem Jeffries, D-N.Y., Senate Minority Leader Mitch McConnell, R-Ky., and House Majority Leader Chuck Schumer, D-N.Y. are planning to meet again Tuesday to discuss the budget and how to avoid a federal default, though they reported the plan was tentative.
Read more: Debt-ceiling standoff: Hereโs what could go into a bipartisan deal
The leaders had postponed a meeting that had been scheduled for last Friday, after their first meeting last Tuesday. Biden called that meeting โproductive,โ but McCarthy said heย โdidnโt see any new movementโ toward ending the debt-ceiling standoff.
Speaking on CBS Newsโ โFace the Nationโ on Sunday, National Economic Council Director Lael Brainardย said negotiations between the White House and McCarthy have been โseriousโ and โconstructive.โ
โOur expectation is that Congress will act to avert default in a timely manner,
she said, according to a CBS News transcript.
Treasury Secretaryย Janet Yellen has warnedย that the federal governmentโs first-ever default could happen as soon as June 1 if Congress doesnโt raise the borrowing limit, and has said it could cause โfinancial chaos.โ
Biden is scheduled to fly to Japan on Wednesday for a G-7 meeting, but has suggested he could cancel the trip if necessary.
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