![President Biden signs the American Rescue Plan on March 11, 2021, in the Oval Office of the White House in Washington, D.C.](https://assets1.cbsnewsstatic.com/hub/i/r/2023/06/02/a5224bcc-4000-4fd5-8b77-59d7fe0725fe/thumbnail/640x360/b9154681203c2b4109b06e616a734747/gettyimages-1258386920.jpg?v=d8f7565ef3e8b72561ee316b5993cbf9#)
Biden on debt ceiling deal to avoid default: "This is vital"
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
Watch CBS News
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
The Senate votes on the bill next.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
Rep. Thomas Massie broke with two other conservatives on the House Rules Committee to advance the legislation to the House floor.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
The debt ceiling deal has cleared both chambers of Congress and is headed to the president's desk.
The House Democratic leader said he can guarantee the U.S. will not default on its debt.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
Time is running short for House Republicans and the White House to reach an agreement on the debt ceiling to avoid default.
President Biden and House Speaker Kevin McCarthy huddled yet again as the debt ceiling "X" date nears.
McCarthy said Sunday that he had a "productive" call with Mr. Biden as the president returns from the G-7 conference in Japan.
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
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.
Secretary Janet Yellen told Congress Monday that the Treasury Department has already seen borrowing costs "increase substantially" for securities maturing in early June.
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
"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.
Republicans and Democrats still appear far apart on raising or suspending the debt ceiling. The five leaders are expected to meet again Friday.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
Here are the options Congress has to avert a first-time U.S. credit default and the severe economic consequences that could follow.
Hitting "Date X" without raising the debt ceiling could lead the U.S. to default on its debt for the first time in its history.
As a default deadline approaches, people across America are watching.
A nonprofit aiming to help Gov. Rick Perry gear up for another presidential run says it will launch a national advertising campaign blasting Washington and promoting GOP governors.
Will the President's second term bring cooperation or confrontation between Democrats and Republicans?
Grover is the ultimate in single interest constituencies in Washington. He is not accountable to anybody. He does not disclose who funds him, who pays him to do what he does or how much he is paid to blackmail GOP Members of Congress to sign his pledge not to raise taxes.
Every week, Eye on Politics breaks down some of the biggest political stories grabbing headlines in North Texas and beyond.
It's a new tool that some law enforcement agencies hope will make a difference by providing officers with another non-lethal option for making arrests.
They kits include communication boards, ID/information sentence starters, reassuring phrases, sunglasses and sensory items.
In other posts, she describes officers not as "first responders" but as police who brutalize people.
The school district said the incident happened inside a small classroom with fewer than 10 students.
The school district said the incident happened inside a small classroom with fewer than 10 students.
In other posts, she describes officers not as "first responders" but as police who brutalize people.
It's been widely reported that Dallas police are investigating what they believe was an attempted kidnapping in a Dallas neighborhood.
The call came in just before 2:15 p.m. at Texas Industrial Scrap Iron, located in the 3800 block of Commerce Street at NE 28th Street.
The mother of three and grandmother calls herself a "global media executive" and "mindset coach."
Keeping students focused in class is a losing battle for Texas schools when there are cellphones around to distract them, says State Representative Ellen Troxclair.
The I-Team surveyed 50 school districts and found a growing number joining the phone-free movement.
Her neighborhood sits in the shadow of Arlington's stadiums, but one woman feels her backyard is no longer safe.
Sammy Mukherjee denied all the accusations, but declined to get into details about the investment deals.
Months after the I-Team revealed a massive illegal dump in a quiet Fort Worth neighborhood, the cleanup has begun.
Every week, Eye on Politics breaks down some of the biggest political stories grabbing headlines in North Texas and beyond.
North Texas delegates to the Democratic National Convention tell political reporter Jack Fink the message they want to hear from Vice President Kamala Harris and her running mate, Minnesota Governor Tim Walz.
Democratic State Representative Mihaela Plesa says some rural Republicans in the Texas House will still join Democrats to try to block any legislation related to school vouchers. "That's crazy to me", Plesa reacts after 70 Republican state lawmakers signed a letter asking the State Fair of Texas Board of Directors to change the new gun policy.
Republican state Representative Brian Harrison strongly favors taxpayer-funded education savings accounts, and says "Texas should make up for being late to school choice." Harrison is also one of 70 Republican state lawmakers that signed a letter asking the State Fair of Texas Board of Directors to change the new gun policy.
North Texas Delegates for the Democratic National Convention discuss what they want to hear from Vice President Harris and Minnesota Governor Tim Walz in Chicago. Topics they hope are addressed include inflation, voting and other "bread and butter" issues.
A viral TikTok recipe that includes melting Jolly Ranchers landed a 9-year-old in the hospital with severe burns.
Richardson residents continue to recover from storms that hit North Texas with winds that created debris and damages to homes.
A string of recalls connected to Wisconsin-based supplier Schreiber Foods has now extended to Aldi stores after similar recalls at Hy-Vee and other grocery chains.
Over the past several months, the CBS News Texas I-Team has reported on solar panel horror stories. This time, we set out to find a success story.
Self-driving 18-wheelers have longtime truckers worried about their livelihood and others concerned that the technology needs more testing to make sure the public is safe.
Trader Joe's reports 14 incidents of high flames, a handful resulting in minor burns and limited property damage.
Staring at an iPad screen too much may keep little kids from learning to control their emotions, a new study finds.
A viral TikTok recipe that includes melting Jolly Ranchers landed a 9-year-old in the hospital with severe burns.
Drugmaker Lykos Therapeutics had asked the FDA to approve its MDMA capsules as part of a therapy regimen for treating PTSD. It says another study will take "several years."
Perchlorate is found in a wide variety of foods, especially products popular with babies and kids, advocacy group says.
Chevron Corporation announced Friday it would relocate its headquarters from San Ramon to Houston, Texas before the end of the year.
The U.S. Olympic and Paralympic Committee filed a federal lawsuit this week alleging Prime, Logan Paul's energy drink company, of infringing on the committee's trademarks.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
Consumer confidence in the deal remains as unguaranteed as a nod from the feds.
Dallas-based American Rounds says more than 200 stores in Texas are requesting a machine.
The first-ever women's soccer team, Dallas Trinity FC, makes its big debut this weekend.
Dallas Cowboys quarterback Dak Prescott remains hopeful he will be able to work out a contract extension.
The playoff-contending Minnesota Twins won 3-2 at Texas on Thursday night in the series opener against the reigning World Series champion Rangers.
Team USA's Jordan Chiles took to Instagram to open up about the loss of her bronze medal.
Texas, the defending World Series champions, stopped a three-game losing streak and won for just the fifth time in its last 18 games.
"The Hollywood Squares" became an American cultural institution and made Peter Marshall a household name.
Gena Rowlands, hailed as one of the greatest actors to ever practice the craft, died at 94 on Wednesday, her representatives confirmed.
"F-1 Trillion," the new album from one of the biggest pop stars in the world, features Post Malone's duets with some of the biggest names in country, including Luke Combs, Blake Shelton, Morgan Wallen and Dolly Parton.
Authorities say two suspected extremists believed to be tied to ISIS appeared to be planning an attack on an event in the Vienna area.
Snoop Dogg has been winning fans with his droll commentary and enthusiasm at the 2024 Olympic Games.
Carrollton police are adding a new tool to their arsenal. They’ve been given special kits to help them respond to people on the spectrum.
Texas Rangers legend Adrian Beltre shares his feelings about being inducted into the Hall of Fame, his experience as a stay-at-home dad, and his deep appreciation for fans.
There's a new tool that some Texas law enforcement agencies hope will make a difference by giving officers another non-lethal option when making arrests.
In Texas, some paramedics use ice baths to cool patients with heatstroke before taking them to the hospital. This “cool first, transport second” method is recommended nationally but only required in 11 states.
North Texas delegates to the Democratic National Convention tell political reporter Jack Fink the message they want to hear from Vice President Kamala Harris and her running mate, Minnesota Governor Tim Walz.
Stars, stripes and plenty of fun in the sun is how Fort Worth celebrates the Fourth of July.
Severe storms made way across North Texas on May 28, leaving behind a path of destruction.
Damage from across North Texas that was left behind by two tornadoes on May 25.
A storm chaser not only captured a massive tornado touching down in Hawley, Texas on Thursday but ended up rescuing a family of four whose home was destroyed by it.
Dallas artist Roberto Marquez traveled to the Rafah Crossing in Egypt, the U.S. capital and will attend this weekend's statewide protest in Austin.