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House Speaker Kevin McCarthy Delivering Remarks On Debt Ceiling


17:30 ET 22:30 GMT: House Speaker Kevin McCarthy (R-CA) is shortly due to provide a press conference to reporters on the debt ceiling.

  • Livestream:
  • McCarthy's presser comes ahead of President Biden's State of the Union speech Tuesday where he is expected to warn of the Republican threat to US debt obligations and the risk the GOP-controlled House of Representatives poses to Social Security and Medicare.
  • McCarthy and Biden met for more than an hour last week to kick off negotiations and both stressed the meeting was undertaken with mutual respect.
  • McCarthy said after the meeting: "I would like to see if we can come to an agreement long before the deadline... But we both laid out some of our vision of where we want to get to... I can see where we can find common ground."
  • The early positive signs could be unraveled by Republican overtures to put Social Security and Medicare in the line for spending cuts.
  • House Republicans have introduced two pieces of legislation — the Trust Act and the Bipartisan Social Security Commission Act — to be included in a debt ceiling deal, which would create commissions to consider the solvency of Social Security and Medicare.

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