Obama, Biden to meet with House, Senate leaders to find 'common ground'

President Obama and Vice President Biden will meet with House and Senate leaders on Wednesday to discuss finding "common ground."

The meeting is to discuss "to discuss ongoing efforts to find common ground on legislative priorities that will create jobs and strengthen America’s economy," according to the White House.

House Speaker John Boehner (R-Ohio), House Minority Leader Nancy Pelosi (D-Calif.), Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) will be at the lunch, according to congressional sources.

The meeting comes a day after the House voted in favor of repealing Department of Education regulations which, according to House Republicans, would lower higher education costs for students. Democrats criticized the legislation, arguing that repealing the regulations would not lower college tuition. 

The Democrat-controlled Senate is likely to kill the House's legislation.