No Debt Limit Breakthrough Yet as Biden and McCarthy Prepare to Meet Monday

House Speaker Kevin McCarthy (R-Calif.) said that he and President Joe Biden will meet on Monday to discuss the debt limit following a "productive" phone call on Sunday.

“It went well, we’ll talk tomorrow," Biden said of the phone call after returning to Washington Sunday night from the G7 Summit in Japan.

Negotiators for the White House and House Republicans met for around two and a half hours at the Capitol Sunday evening. They did not achieve a breakthrough, but White House senior adviser Steve Ricchetti pledged to "keep working."

Speaking to reporters on Capitol Hill earlier Sunday, McCarthy suggested that conversations between the two sides were moving in the right direction after they had slowed in recent days.

McCarthy also said that immigration and other issues would not be added to debt limit talks, which some conservatives had been pushing for. Immigration was part of the House GOP's last proposal.

A White House official said it’s “encouraging to learn this is off the table again.”

The news followed Biden's remarks earlier Sunday at the G7 Summit, where he blasted Republicans' proposals as "unacceptable" and called on them to “move from their extreme positions.” 

The president also said he thinks he had the "authority" to invoke the 14th Amendment to bypass Congress and unilaterally raise the debt ceiling. But he questioned whether that option could be resolved in time to avoid a government default.

Treasury Secretary Janet Yellen warned during an appearance on NBC's "Meet the Press" on Sunday that if the debt ceiling wasn't raised by June 1 "some bills will go unpaid."

McCarthy said on Fox News earlier on Sunday that Republicans were the "only ones being responsible and sensible" about the debt ceiling.

Biden tweeted on Sunday afternoon: "All four of the Congressional leaders agree with me that default is not an option." The president added, "America has never defaulted on its debts. And it never will."