U.S. President Joe Biden and U.S. House Speaker Kevin McCarthy postponed their meeting on the debt ceiling set for Friday as their aides continue negotiations toward avoiding a catastrophic default.
The delay signals that staff-level talks on energy permitting reform and government spending have yielded progress, according to people familiar with the talks. The speaker said Biden planned to meet with him and other congressional leaders next week, though neither side specified a date.
McCarthy told reporters at the Capitol that the leaders agreed it would be "more productive” for staff to proceed with their discussions. Senate Majority Leader Chuck Schumer, likewise, said he believed talks "are moving along.”