Lawmakers are staring down a fast-approaching deadline to raise the debt ceiling or risk default as early as June 1, but the timeline to reach a solution is actually much shorter.
calendars, both chambers will be in session at the same time for just eight days before the end of May.
Complicating the issue further is Biden's schedule: the president is traveling to Japan for a meeting with G-7 leaders from May 19 to May 21, followed by a trip to Australia for the Quad Leaders' Summit on May 24. On Tuesday, Biden and top congressional leaders will gather at the White House for debt ceiling talks. It will be the first meeting between House Speaker Kevin McCarthy and Biden on the issue since February.
Speaker of the House Rep. Kevin McCarthy speaks to the media at the US Capitol on April 26, 2023 in Washington, DC."There have been some small steps in the past week or so with the passage of the House legislation and the invitation of the congressional leaders to the White House," said Akabas. "But we're still in the early stages of these discussions. So there's a lot that remains to be done, and not that much time. We need to see an acceleration in these activities.
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