US Republicans have offered President Barack Obama a short-term debt limit increase to stave off default.
House of Representatives Speaker John Boehner said they would do so in exchange for negotiations with the White House to end a government shutdown that took effect on 1 October.
Republicans will meet Mr Obama, who is a Democrat, later on Thursday.
Officials have warned the US risks default on 17 October if the nation’s borrowing limit is not increased.
Mr Boehner told reporters on Thursday: “What we want to do is to offer the president today the ability to move a temporary increase in the debt ceiling in agreement to go to conference on the budget for his willingness to sit down and discuss with us a way forward to reopen the government.”
“It’s time for leadership,” the Ohio Republican said. “It’s time for these negotiations and this conversation to begin.”
A spokesman for Mr Boehner told media that the deal on the table ahead of Thursday afternoon’s meeting was a “clean” increase of the debt limit, with no additional policies attached.
It would only last six weeks – until 22 November.
