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

Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference with house and senate Republicans on the “debt crisis,” on the west plaza of the U.S. Capitol on Wednesday, May 17, 2023. 

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

WASHINGTON — House Speaker Kevin McCarthy said Thursday that he is optimistic that congressional negotiators could reach a deal to raise or suspend the debt ceiling in time to hold a House vote on it next week.

“I see the path that we can come to an agreement,” McCarthy told reporters in the Capitol. “And I think we have a structure now and everybody’s working hard, and I mean, we’re working two or three times a day, then going back getting more numbers.”

McCarthy spoke as a small group of White House negotiators met on Capitol Hill with McCarthy’s team to hammer out a deal that’s able to pass the Republican majority House and the Democratic controlled Senate ahead of a potential June 1 deadline, the soonest date the Treasury could run out of cash to pay debts already incurred.

“I just believe where we were a week ago and where we are today is a much better place, because we’ve got the right people in the room discussing it in a very professional manner, with all the knowledge, all the background from all the different leaders,” McCarthy added, according to several reporters present.

This week, the White House dispatched two new negotiators to take the lead in the delicate talks, presidential counselor Steve Ricchetti and Office of Management and Budget director Shalanda Young.

This is breaking news. Please check back for updates.

Correction: McCarthy spoke about the debt ceiling deal Thursday. An earlier version of the article misstated when he spoke.

This story originally appeared on CNBC

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