Biden, McCarthy debt ceiling talks delayed until next week

A meeting between President Biden and congressional leaders on the debt ceiling that was supposed to be held Friday has been delayed until next week.

Fox News confirmed the delay late Thursday afternoon.

Just two days ago, Biden and House Speaker Kevin McCarthy, R-Calif., and other leaders agreed to hold staff level talks on how to raise the debt ceiling before the government is unable to pay its current obligations by early June. Republicans only want to raise the borrowing limit if Democrats agree to spending cuts, but Democrats are rejecting that and only want a clean debt ceiling.

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It wasn’t immediately clear why the talks were delayed, but a lack of progress is the sort of issue that would be enough for both sides to agree to a delayed second round between Biden and top congressional leaders.

House Majority Whip Tom Emmer, R-Minn., told Fox News Digital Wednesday afternoon that talks from earlier in the week didn’t get very far, and said he didn’t have a readout of how Wednesday and Thursday talks had gone.

“Yesterday and then today, whether they’re making progress, I don’t know,” Emmer said. “But they’re still meeting and there’s a plan for a second meeting, at least of the speaker and the president.”

This is a breaking news story, please check back for updates.