McCarthy says House could vote on debt ceiling deal as soon as next week

McCarthy says House could vote on debt ceiling deal as soon as next week

House Speaker Kevin McCarthy, R-California, delivers a press conference with House and Senate Republicans on the topic of the “debt crisis” on Wednesday, May 17, 2023 in the West Plaza of the US Capitol.

Tom Williams | Cq-roll Call, Inc. | Getty Images

WASHINGTON — House Speaker Kevin McCarthy said Thursday he is optimistic that negotiators in Congress could reach an agreement to raise or suspend the debt ceiling in time for a House vote next week.

“I see the way we can come to an agreement,” McCarthy told reporters at the Capitol. “And I think we have a structure now and everyone is working hard and I mean we work two or three times a day and then we go back to getting more numbers.”

McCarthy was speaking as a small group of White House negotiators met with McCarthy’s team on Capitol Hill to negotiate a deal that can pass the Republican-majority House and the Democratic-controlled Senate before the potential June 1 deadline earliest date that the Treasury could start operating would run out of cash to pay off debts already incurred.

“I just think we’re a lot better where we were a week ago and where we are today because we have the right people in the room who are discussing the issue in a very professional way, with all the knowledge and the overall background of all the various leaders,” McCarthy added, according to several reporters who were in attendance.

This week, the White House deployed two new negotiators to lead the thorny talks: Presidential Advisor Steve Ricchetti and Office of Management and Budget Director Shalanda Young.

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Correction: McCarthy spoke on Thursday about the debt ceiling agreement. In an earlier version of the article it was wrong when he spoke.