After a testy 75-minute meeting Sunday, President Barack Obama and congressional leaders agreed to continue their budget negotiations Monday.
The president also will hold a press conference Monday morning, the White House announced at the conclusion of the meeting.
Obama urged the group to work toward a large-scale package for reducing the deficit rather than the smaller one favored by Republicans. But House Majority Leader Eric Cantor (R-Va.), who appeared to be speaking for the Republicans, argued that any plans to raise new tax revenue needed to be offset by corresponding spending cuts, according to multiple sources briefed on the meeting.
The meeting, which featured several sharp and frustrated exchanges, broke without settling anything other than negotiators’ plans for their next meeting, the sources said.
A Republican Hill source said the meeting Monday will review the progress made during talks led by Vice President Joe Biden, who had been focused on reaching an agreement worth about $2.5 trillion — less than the $4 trillion package sought over the past week by the president.
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