House of Representatives speaker Kevin McCarthy Reportedly said on Sunday the House of Representatives would vote on its spending and debt bills this week and also invited president Joe Biden To Debate ceiling discussion.

What happened: Though Republicans have a slim majority in the House of Representatives, McCarthy said he was confident of getting enough votes to pass his bill in the chamber, according to a Reuters report.

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“Like every other household in America, if Washington wants to spend more, it has to save more elsewhere. That’s not controversial – it’s common sense. I urge the President to get serious and sit down with Republicans,” McCarthy tweeted.

The plan: Last week, the House Speaker unveiled a plan to raise the debt ceiling by $1.5 trillion and cut federal spending by three times. McCarthy’s proposal would reduce total domestic and military spending to 2022 levels and limit growth to 1% per year in the coming years.

McCarthy also criticized Biden, saying, “The real decision is that he’s afraid to even negotiate.”

“I can’t think of anyone in our conference who would want to join Biden’s reckless spending. That is responsible. It’s something we’ve sat down for months and everyone has contributed to,” McCarthy told Fox News.

“Here, not everyone gets 100% of what they want, but if we send this to the Senate, we’ll show that we’re capable of raising the debt ceiling into next year,” he added.

Financial markets have already shown signs of concern about the stalemate as the cost of insuring US debt is at its highest level in a decade, the report said.

Democratic Senators Amy Klobuchar And Dick Durbin called for negotiations between Biden and McCarthy on Sunday, but said the House proposal was more appropriate for budget debates than the debt ceiling, according to the report.

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