An agreement in principle has been reached on the debt ceiling, Fox News has learned.
According to multiple sources, an all GOP House conference call is scheduled to happen at 9:30 p.m. Saturday about the debt limit negotiations. President Biden and House Speaker Kevin McCarthy were scheduled to speak by phone Saturday night at 6 p.m. to discuss a potential debt limit deal, Fox News learned.
The meeting ended the call regarding the debt ceiling at 7:38 p.m., and the call lasted for nearly 90 minutes.
A source also said that Biden spoke with Senate Majority leader Chuck Schumer and House Minority Leader Hakeem Jeffries.
The revelation came after McCarthy sounded optimistic earlier in the day.
“We do not have a deal,” McCarthy told reporters. “We are not there yet. We did make progress, we worked well into early this morning. And we’re back at it now.”
Biden, who traveled to Camp David late in the week before heading to his Delaware home, told reporters, “It’s very close and I’m optimistic.”
“I just got off the phone with the president a bit ago. After he wasted time and refused to negotiate for months, we’ve come to an agreement in principle that is worthy of the American people,” McCarthy said after his discussion with Biden.