A House aide says President Barack Obama will meet Wednesday afternoon with House Speaker John Boehner and Rep. Eric Cantor at the White House.
The aide says the meeting will take place at the White House at 5 p.m. It follows Obama's meeting earlier Wednesday with top House and Senate Democrats.
The meetings come as the clock ticks toward an Aug. 2 deadline for Congress to increase the nation's borrowing limit or risk a U.S. default on its financial obligations. A new bipartisan budget plan is emerging in the Senate that would slash the deficit by almost $4 trillion over a decade through a mix of spending cuts and new tax revenues.
The House aide spoke on the condition of anonymity because the meeting has not been announced officially.