Watch live: White House press briefing

White House press secretary Karine Jean-Pierre is slated to hold a press briefing on Wednesday afternoon.

The White House has been locked in negotiations with GOP lawmakers on a deal to raise the debt ceiling, with just over a week to go until June 1 — the day the Treasury Department has said the U.S. could default.

The debt ceiling bill House Republicans passed last month calls for capping fiscal 2024 federal funding at fiscal 2022 levels as part of an effort to cut spending, a proposal Democrats have rejected.

The White House has suggested freezing funding at 2023 levels, but Republicans have turned that down — insisting any agreement must include spending that is lower than current levels.

The event is scheduled to begin at 2:15 p.m. ET.

Watch the live video above.