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At the conclusion of a meeting between the president and congressional leaders Tuesday, House Speaker Kevin McCarthy said that a “better process” is now in place for further talks, saying it’s “possible to get a deal by the end of the week.” The White House said that Biden canceled a second leg of an upcoming international trip to focus on the negotiations.
Treasury Secretary Janet Yellen has said the government needs to raise the limit immediately as the country faces the possibility of defaulting as early as June 1.
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