Senate passes debt ceiling bill, sending measure to Biden
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
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The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
President Joe Biden says he is optimistic the U.S. will not default on the nation's debt. But whether or not that happens now rests with Congress, which will a vote on the compromise legislation to raise the debt ceiling in exchange for spending cuts. CBS News' Skyler Henry reports.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
Lawmakers in Washington have just one week to raise the debt ceiling or risk defaulting on the U.S. debt for the first time in history.
Lawmakers in Washington have just one week to raise the debt ceiling or risk defaulting on the U.S. debt for the first time in history. House Speaker Kevin McCarthy (R-California) and President Joe Biden are both optimistic that a deal can be reached in time. Sen. Dick Durbin (D-Illinois) is putting pressure on McCarthy.
Even a short default could wipe out more than a million jobs, especially in parts of the U.S. that depend on federal spending.
Without a deal, Treasury Secretary Janet Yellen has said the U.S. could be unable to pay its bills and might default on its debt as soon as June 1.
Members of Congress and President Joe Biden had their second meeting on the national debt limit Tuesday. CBS News' Nicole D'Antonio reports.
"No one should assume that the Fed can… really protect the economy and the financial system, and our reputation globally, from the damage such an event might inflict," Federal Reserve Chairman Jerome Powell said.
CBS News' Nicole D'Antonio reports on the debt ceiling standoff and the damage it is causing.
The government made a list of demands in dozens of categories in a letter to the Sangamon County Sheriff's Office, dated Thursday.
On Thursday, Benjamin Oberto, 45, of New Berlin, Wisconsin, was reported missing around midnight.
Chicago police said just before 12:30 a.m., a northbound silver SUV collided with a southbound black sedan.
Some breaks for sunshine on Saturday give way to highs in the middle 50s.
Preliminary investigation indicated that a 25-year-old man was on the sidewalk when two unknown people approached him.
Those in the industry who spoke to CBS News Chicago said their margins are already so slim that an increased liquor tax could drive business owners to close their doors.
Snelling laid out the challenges the department is facing—and how, following the imposition of a consent decree, it can help to create a culture change to form a top police department in the country.
Martinez's funeral is set for Monday of next week. In a statement, the Mayor's office said Mayor Johnson plans to attend the funeral alongside Supt. Larry Snelling.
The Democrat looking to unseat an incumbent Republican in a close Iowa congressional race has asked for a recount.
A new report shows Wisconsin voters approved a record number of school referenda in 2024 elections.
Those in the industry who spoke to CBS News Chicago said their margins are already so slim that an increased liquor tax could drive business owners to close their doors.
Robin McElroy said she loves everything about her Morgan Park home—except for the panic-inducing surprises she has been getting in the mail about her supposedly unpaid taxes.
Scammers often get financial information and personal details, or lure in veterans with videos that claim they can win lots of money,
It's the season of giving, but if you're not careful with finances, you could be getting a hefty bill at the end of the holiday season.
For the first time since 1938, children in Des Moines, Iowa, will go trick-or-treating on Halloween. The city began its unusual custom of opting for Beggar's Night decades ago in hopes of tamping down on hooliganism.
The 65-year-old actor and stand-up comedian, best known for portraying Joey Gladstone on "Full House," said he first noticed symptoms in October.
An attorney representing a conservative prosecutor struggled Monday to convince Wisconsin's liberal-leaning Supreme Court to reactivate the state's 175-year-old abortion ban.
The "Dawson's Creek" alum shared the news on Sunday and said that despite the diagnosis, there is "reason for optimism, and I'm feeling good."
Three patients at the University of Chicago Medicine are in the trial for the treatment.
Some pathogens that contaminate food are even showing up in the U.S. for the first time thanks to climate change.
Owner Ricky Burns made a big dream come true in the tiny space on Western Avenue in West Ridge.
Those in the industry who spoke to CBS News Chicago said their margins are already so slim that an increased liquor tax could drive business owners to close their doors.
The nonprofit Far South Community Development Corporation is working to create everlasting change—and has a vision specifically for the commercial corridor at 115th and Halsted streets.
Wonder Group, a New York-based food ordering company that touts "fast fine" dining, is set to be Grubhub's new owner.
Foxtrot will be pouring free drip coffee between 6 a.m. and 10 a.m. at the Fulton Market location to celebrate the reopening.
"America demanded it and now it's happening: Taco Bell's new Cheesy Chalupa Supreme. In other news, I'm hosting the Oscars," Conan O'Brien said.
The IBA also gave out the Silver Dome Awards at its luncheon Wednesday.
The 65-year-old actor and stand-up comedian, best known for portraying Joey Gladstone on "Full House," said he first noticed symptoms in October.
John Krasinski is People magazine's Sexiest Man Alive for 2024. The magazine announced the actor-writer-director as its pick during "The Late Show with Stephen Colbert."
After nearly two decades in the city, organizers posted on social media that they are "deeply grateful to the City of Chicago."
It's taking place at Rockwell on the River in the Avondale neighborhood. Some of the biggest names in the makeup industry are attending, and the event runs until Sunday.
The ceasefire would last for 60 days. An official response is expected in the next few days.
Authorities have arrested an American tourist in Tokyo, Japan, they say he vandalized a gate at a local shrine. Steve Hayes, 65, is facing property damage charges after being accused of carving letters with his fingernails into a pillar.
According to authorities, a total of 55 were being treated in the NICU when the flames broke out in Jhansi.
The Canadian postal service has halted after 55,000 workers at Canada Post went on strike. Their union says the government "refused to find real solutions" in contract negotiations.
Martinez's funeral is set for Monday of next week. In a statement, the Mayor's office said Mayor Johnson plans to attend the funeral alongside Supt. Larry Snelling.
"How is this possible that so many things could have gone wrong and allowed for this to happen?" Candice Gatlin said.
The government made a list of demands in dozens of categories in a letter to the Sangamon County Sheriff's Office, dated Thursday.
Preliminary investigation indicated that a 25-year-old man was on the sidewalk when two unknown people approached him.
Those in the industry who spoke to CBS News Chicago said their margins are already so slim that an increased liquor tax could drive business owners to close their doors.
"How is this possible that so many things could have gone wrong and allowed for this to happen?" Candice Gatlin said.
City law requires festival producers to reimburse the city for police overtime worked at their events, but records requests show the city is not retroactively charging for it.
Residents' finances are stretched to the max, and they are reaching out to say enough has not been done to finalize repairs and get them back into their homes.
Caitlin Tracey's family did not want her husband to have her remains because of a history of domestic violence allegations.
Robin McElroy said she loves everything about her Morgan Park home—except for the panic-inducing surprises she has been getting in the mail about her supposedly unpaid taxes.
Leach, a graduate transfer from Fairfield, shot just 5 of 12, including 2 of 7 from 3-point range, but made up for it going 13 of 14 from the free throw line.
Dawson also had three blocks for the Ramblers (4-0)
Coby White scored 29 and Nikola Vucevic had 25 for the Bulls.
Jones said there has been a different energy at practice this week under new offensive coordinator Thomas Brown.
The 'Hawks offense, which ranks 26th in the league in scoring, struggled to put points on the board.
Wentworth Area detectives were investigating Friday night.
The threat involved Fremont Middle School in unincorporated Mundelein.
One burglary suspect tried to run away after the crash, but was arrested at the scene.
City law requires festival producers to reimburse the city for police overtime worked at their events, but records requests show the city is not retroactively charging for it.
Durk, 32—legal name Durk Devontay Banks—was arraigned in U.S. District Court in Los Angeles Thursday after being extradited from Florida.
