President Biden is expected to press House Speaker Kevin McCarthy to release the GOP’s plan to reduce the deficit during Wednesday’s meeting on the debt ceiling, according to a White House memo released Tuesday.

Mr. Biden will also ask the California Republican to commit to avoiding a “debt limit brinksmanship” as the clock counts down toward default.

“President Biden will seek a clear commitment from Speaker McCarthy that default — as well as proposals from members of his caucus for default by another name — is unacceptable,” the memo reads.

The president will ask the speaker to “publicly assure the American people and the rest of the world that the United States will, as always, honor all of its financial obligations.”

The highly anticipated meeting comes weeks after the Treasury Department began taking “extraordinary measures” to stave off a debt default as the government approaches its borrowing capacity.

Those emergency accounting measures are expected to give the government enough breathing room to cover day-to-day expenses until the summer.

Mr. McCarthy has called for the Democratic-led Senate and White House to agree to spending cuts in the face of an unwieldy national debt.

Previewing the discussion Sunday, Mr. McCarthy told CBS’ “Face the Nation” that “there would not be a default,” but said he intended to drive a hard bargain over trimming the budget.

“I know the president said he didn’t want to have any discussion (on cuts), but I think it’s very important that our whole government is designed to find compromise,” Mr. McCarthy said. “I want to sit down together, work out an agreement that we can move forward to put us on a path to balance — and at the same time not put any of our debt in jeopardy at the same time.”

Mr. Biden, according to the memo, is expected to release his budget March 9. The White House says it will “show how the president plans to invest in America, continue to lower costs for families, protect and strengthen Social Security and Medicare, and reduce the deficit.”

The memo added, “Speaker McCarthy has said that reducing the deficit is a top priority for him and his caucus. So far, however, House Republicans have offered up detailed plans to increase the deficit with tax policies that would benefit the wealthiest Americans.”

Democrats have accused House Republicans of targeting Social Security and Medicare benefits as part of their proposed cuts.

Pressed on details Sunday, Mr. McCarthy said the two programs were off the table going into negotiations with the president but said other spending, including in defense, could be in focus.

“I want to eliminate waste wherever it is. … I want to look at every single department,” he said.