Biden and Congressional Leaders to Meet on Debt Ceiling

House Speaker Kevin McCarthy has accepted an invitation to meet with President Joe Biden on May 9 about the debt ceiling, setting the stage for a high-stakes moment in the debt ceiling standoff. Biden invited all four Congressional leaders to the meeting. The House passed a package to raise the debt ceiling by $1.5 trillion last week, but the bill has been described by Democratic Sen. Chuck Schumer as “dead on arrival” in the Senate. The White House has maintained that the president would only accept a clean proposal to raise the nation’s borrowing limit.