House Speaker McCarthy says debt ceiling talks can't resume until Biden returns from G-7 summit

The on-again, off-again deliberations connected Capitol Hill surrounding the indebtedness ceiling are backmost off-again, arsenic House Speaker Kevin McCarthy told reporters connected Saturday Republicans volition lone proceed negotiations erstwhile President Joe Biden returns from the Group of Seven Summit successful Japan.

"Unfortunately, the White House moved backwards," McCarthy said astir the existent deliberations surrounding the indebtedness ceiling. "I don't deliberation we're going to beryllium capable to determination guardant until the president tin get backmost successful the country," helium added.

Biden is scheduled to return to Washington, D.C., from the G-7 acme connected Sunday. The president said astatine a property league from the acme that helium is "not astatine all" acrophobic astir the negotiations and believes "we'll beryllium capable to debar a default and we'll get thing decent done."

McCarthy's revelation that the talks are connected intermission again, astatine slightest for now, is the latest hurdle facing the statement successful Congress connected what to bash with the pending indebtedness limit. Treasury Secretary Janet Yellen pegged June 1 arsenic the earliest day connected which the United States could tally retired of money to wage debts the authorities has already incurred.

Any woody to rise oregon suspend the indebtedness bounds volition request to walk successful some the GOP-led House and the Democratic-controlled Senate, and cardinal lawmakers successful some parties person acknowledged that the eventual compromise measure could beryllium unacceptable to hardliners.

The high-stakes talks implicit raising the indebtedness bounds resumed successful the Capitol connected Friday evening, hours aft they were paused astatine midday erstwhile Republican negotiators walked retired of the room, blaming the White House for holding up discussions.