Republicans in Congress urge President to negotiate debt ceiling

SAN DIEGO (KUSI) – America’s looming debt ceiling crisis may be one step closer to being avoided.

President Biden and Speaker McCarthy had a brief meeting Tuesday to avoid a default.

McCarthy, who was both agitated but optimistic afterwards, admitted that the two would attempt to reach a deal by June 1 in order to avoid a shutdown.

The President also announced he is cancelling an upcoming trip to Papua New Guinea and Australia amid the negotiations.

Speaker McCarthy says he will agree to raise the debt ceiling if Democrats agree to cut spending.