"No, that's not true at all. There is no side deal with President Biden," McCarthy said in an interview with the Newsmax broadcaster late on Monday.
McCarthy added that he had not spoken with the president for months.
White House spokeswoman Karine Jean-Pierre earlier on Monday declined to provide details of the alleged deal between Biden and McCarthy, neither confirming nor denying its existence.
On Sunday, Biden appeared to suggest in a comment to reporters that he had made a deal with McCarthy to pass a temporary government budget bill. On Monday, Republican Congressmen Matt Gaetz, who filed a motion to remove McCarthy from his position, demanded that the House speaker disclose details of the alleged deal.