McCarthy accepts Biden's invitation for debt ceiling meeting next week.

House Speaker Kevin McCarthy has accepted President Joe Biden's invitation to meet with the top four congressional leaders on May 9 at the White House to discuss how to avert a debt limit breach. Treasury Secretary Janet Yellen warned in a letter that the U.S. could breach the debt ceiling by June 1 if Congress doesn’t act in time. House Republicans insist on attaching spending cuts to a debt ceiling increase, while Democrats vow not to negotiate over whether to pay the country’s bills or default. Democrats have insisted on a “clean” debt limit increase without policy conditions and want Congress to negotiate over spending cuts that Republicans have demanded in the separate government funding process.