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President Biden will host a sit-down down with Republican Congressional leaders next week, to discuss the looming debt ceiling deadline.
House Speaker Kevin McCarthy and Senate Minority Leader Mitch McConnell have accepted Biden's invitation to meet at the White House on May 9th, along with top Democrats Chuck Schumer and Hakeem Jeffries.
Treasury Secretary Janet Yellen says the U.S. could breach the debt ceiling by June 1st if a deal isn't reached.
Republicans are calling for spending cuts before approving any increase.
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