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A Debt Deal Is ‘Not Close,’ Key McCarthy Ally Says

(Bloomberg) -- House Financial Services Chairman Patrick McHenry emerged from debt talks on Thursday saying the two sides are “not close to being done” with a deal to avert a first-ever US default.

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The comments from McHenry, a key ally of the House speaker, come hours after Kevin McCarthy said he expected a House vote on negotiated legislation next week.

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“We have a lot more work to do,” the North Carolina Republican said, adding that it isn’t clear when negotiators will meet again.

McHenry would not commit to a plan or even an outline being firm by the weekend, but added, “the right things are being discussed.”

(Adds comment on issues in fourth paragraph)

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