"Things are looking good," Biden told reporters.
"I'm hopeful," said McHenry, one of House of Representatives Speaker Kevin McCarthy's lead negotiators with the White House.
Negotiators are discussing a deal that would lift the limit for two years, but remain at odds over whether to stiffen work requirements for some anti-poverty programs.
WORK REQUIREMENTS IN DISPUTEThe safety-net programs remained a sticking point.
Biden in particular has resisted the work requirements for Medicaid, which covered 85 million Americans as of January.