Schumer and Pelosi pulled out of the meeting, saying the "best path forward" was to keep negotiating with Republican leadership. Mitch McConnell, R-Ky., and House Speaker Paul Ryan, R-Wis. - to meet Tuesday afternoon.
"If the president, who already said earlier this year that 'our country needs a good shutdown, ' isn't interested in addressing the hard year end agenda, we'll work with those Republicans who are, as we did in April", the top Democrats said.
Mr Schumer and Ms Pelosi added: "We don't have any time to waste". Or will they vote against it and shut down the government?
When Mr. Trump said a deal might not be possible, the Democrats said they'd had enough Twitter abuse and were canceling the meeting.
Pelosi and Schumer are resisting the tax cuts and will look to work with several Republican lawmakers who have been critical of Trump and tax reform plans that they argue do little for small business, an issue that is seen as critical to the GOP's prospects at 2018 mid-term elections.
While it was unlikely the missile fired in the early hours of Wednesday could yet carry a nuclear payload, the missile itself probably had the capability of reaching the USA capital, or anywhere else in the country, said David Wright, co-director of the global security programme at the Union of Concerned Scientists. Press secretary Sarah Huckabee Sanders said, "The President's invitation to the Democrat leaders still stands, and he encourages them to put aside their pettiness, stop the political grandstanding, show up and get to work".
Congress has three choices: approve a massive bill for more than $1 trillion to keep the government operating through September 30, 2018; pass a shorter extension of current funding to buy more time; or fail to pass anything and risk a partial government shutdown. "These issues are far too serious for these kinds of games". "That strikes me as a lack of seriousness about the matter before us".
Trump said he "would absolutely blame the Democrats" if there is a government shutdown next week. "They're weak on crime, they're weak on illegal immigration, they want the illegal folks to come pouring into our border - and a lot of problems are being caused, although we've stopped it to a large extent, as much as you can without the wall, which we're going to get". "If it happens, it's going to be over illegals pouring into the country, crime pouring into the country, no border wall - which everybody wants".
He and the Democrats made a deal to increase the debt limit and finance the government through early December.