President Joe Biden will remain in “constant contact” with debt ceiling negotiators and promised to update the nation Sunday upon his return from a shortened trip to Asia for the G7 economic summit.

U.S. House Speaker Kevin McCarthy traveled to the New York Stock Exchange on Monday to press for the Republican approach to raising the nation’s debt limit in front of a new audience, calling on Democrats to agree to future spending cuts without any tax increases.

Congress’ Joint Economic Committee released a report Thursday detailing the economic repercussions of defaulting on the nation’s debt, adding fuel to the fire as Democrats pressed Republicans to address the nation’s borrowing limit without tying action to spending cuts.