NOT READY FOR TAKEOFF — The runway to move a debt limit deal through both chambers of Congress and over to the White House is getting shorter, while negotiating days keep getting longer. Negotiators met late Monday night, arriving at the Capitol after 10 p.m. and leaving a little over an hour later. The White House team did not give updates after the meeting, which followed the Oval Office meeting between Speaker Kevin McCarthy and President Joe Biden earlier in the day. The upshot: Even if a deal emerges in the coming days, the timing could be very, very tight. X-date update: First things first: There’s no sign yet of any deadline reprieve. The Bipartisan Policy Center said in its latest projection this morning that there is “an elevated risk [of default]” between June 2 and June 13. Treasury Secretary Janet Yellen, meanwhile, reiterated Monday that the cash could run out “as early as June 1.” How to count to 72: House Republican leaders have pledged to give their members 72 hours to examine any debt deal, and members say they are ready to hold McCarthy accountable for that promise, which was part of the deal he struck with conservatives to win the speaker’s gavel. Like so much on Capitol Hill, though, exactly how to count the 72 hours could be up to interpretation. Rep. Bob Good (R-Va.), for one, told Jordain that 72 hours means 72 hours. He's not into a plan that would give members two days plus an hour or so to review the bill. McCarthy, he said Monday night, “knows where the majority of his conference is.” Remember, though: A majority vote can waive any House rule, and the 72-hour pledge was cast aside when House Republicans passed their debt-and-spending legislation back in April. That package underwent substantial late-night changes after it was introduced, and House GOP leaders proceeded with votes the same day as the 2 a.m. tweaks. Memorial Day plans: The House is set to begin a weeklong holiday recess Thursday, and members are itching to leave town. But at Monday night’s House GOP leadership meeting, there was skepticism about getting a deal passed by the weekend, Sarah and Olivia reported, even if a deal between McCarthy and Biden comes together quickly. To vote by Friday, House lawmakers would likely need to see text no later than Wednesday night. But it doesn’t seem like negotiators are anywhere close to drafting a bill. "I think we both agreed we want to be able to come to agreement," McCarthy said Monday night after the White House meeting. "Nothing has been agreed to. Everything is being talked about." In fact, Jordain heard some banter between House Republicans outside a GOP whip meeting last night about being back next week. Another House GOP member told us, “I’m not making any firm plans this weekend.” What about that discharge petition? As of last night, 210 House Democrats signed on to the petition, with Reps. Mary Peltola (D-Alaska), Jared Golden (D-Maine) and Ed Case (D-Hawaii) yet to join, according to Nicholas, who’s been tracking the discharge petition efforts from Democratic leadership. While Democrats have largely united around this last ditch effort, they still need to convince the stragglers plus at least four Republicans to get it over the finish line. Not only is that unlikely, but the timeline for action could extend well past the possible X-date. Under House rules, the discharge petition could not ripen for a floor vote sooner than mid-June. Debt-limit potpourri: The New Democrat Coalition is set to host Federal Reserve Chair Jerome Powell at their weekly lunch tomorrow, according to a person familiar with the conversation. … House Appropriations Chair Kay Granger (R-Texas) announced just before midnight yesterday that she’d scrapped markups planned for this week “in order to give the Speaker maximum flexibility as talks continue,” she said in a statement. Hot and fresh this morning: Why the debt talks are McCarthy’s second job interview, from Olivia
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