Biden Prepares For Key McCarthy Meeting Tomorrow, To Unveil Budget March 9

Reuters reports that President Biden plans to release his presidential budget on March 9.

• Comes as the White House braces for a months-long standoff with Republicans over government spending.
• House Speaker Kevin McCarthy (R-CA) will meet Biden at the White House tomorrow for a first in-person meeting with Biden since he was elevated to speaker.
• Biden told reporters yesterday: "Show me your budget, I’ll show you mine," when asked of his message for McCarthy.
• Insiders see little chance of movement from either side at tomorrow's meeting but it will start the process of sounding out the kind of spending concessions the GOP will be willing to accept in return for raising the debt ceiling.
• Senate Minority Leader Mitch McConnell (R-KY), seen as the most skilled GOP negotiator, is still waiting on the sidelines, refraining from adding his name to a letter undersigned by 24 Senate Republicans vowing to vote against raising the debt limit without significant spending cuts.
• The presidential budget is a statement of intent from the executive rather than a credible preview of policy. It is unlikely the document will reverse the Biden administration's ambitious spending agenda.