U.S. House Speaker: Debt ceiling negotiations will reach an outcome, there will be no default

On May 24, local time, U.S. House Speaker Kevin McCarthy held a press conference to provide an update on the debt ceiling negotiations. McCarthy said the two sides still disagree on some of the elements, but negotiators have gone to the White House to try to complete the negotiations. 
McCarthy believes that he is capable of making progress on the U.S. debt ceiling issue and that the U.S. debt ceiling negotiations will reach an outcome without a debt default, and that the U.S. will not solve the U.S. debt ceiling problem by raising taxes. In addition, McCarthy also reiterated his position that the U.S. government should keep spending below last year's level in the next fiscal year.