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.
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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.
Last year, Abbott signed a law that froze undergraduate tuition and fees for the 2023-24 and 2024-25 academic years.
Trump will nominate Florida Rep. Matt Gaetz to serve as attorney general, according to a social media post.
Spirit Airlines, weighed down by mounting debt, is considering filing for bankruptcy protection.
Once the front passes through by midday, the winds turn northwest, the clouds clear and it will get breezy and warm.
Who are the high rollers who bankrolled Trump and Republicans in the 2024 election, and what do they want in return for their generosity?
Last year, Abbott signed a law that froze undergraduate tuition and fees for the 2023-24 and 2024-25 academic years.
Trump will nominate Florida Rep. Matt Gaetz to serve as attorney general, according to a social media post.
Spirit Airlines, weighed down by mounting debt, is considering filing for bankruptcy protection.
Once the front passes through by midday, the winds turn northwest, the clouds clear and it will get breezy and warm.
Who are the high rollers who bankrolled Trump and Republicans in the 2024 election, and what do they want in return for their generosity?
A North Texas couple vetted and hired a local company for their move to Oregon, not knowing someone else would be taking their things.
Big solar companies oftentimes outsource on-the-ground sales efforts to third-party companies.
A Collin County man is facing an extremely rare traffic citation after an encounter that was caught on video.
The CBS Data Team learned there are about 5600 mail thefts reported every year in the North Texas region- that's more than 15 reported thefts a day.
For the past six months, the CBS News Texas I-Team has spoken with more than a dozen Medicare recipients who reported fraudulent activity on their accounts.
Trump will nominate Florida Rep. Matt Gaetz to serve as attorney general, according to a social media post.
Who are the high rollers who bankrolled Trump and Republicans in the 2024 election, and what do they want in return for their generosity?
President Biden and President-elect Donald Trump both promised a "smooth" transition.
President-elect Donald Trump has repeatedly said he plans to fire special counsel Jack Smith.
Sen. John Thune of South Dakota won on the second round of voting against Sen. John Cornyn of Texas in the race for Senate Republican leader.
At Fort Worth ISD's North Side High School, the sounds of an American sport on the field meet mariachi music in the stands.
With new foods, such as the "Drowning Taquitos" and the "Beso de Angel," Tony's Taco Shop owners say they don't take their success for granted.
Latinas in Tech DFW started back up last year after the pandemic. They have lots of opportunities for Latinas to network, connect, and learn new skills.
Anchor Ken Molestina shows us how he makes his Cuban coffee for the CBS News Texas newsroom.
Del Olmo, who has played golf his entire life, recalls how rare the sport was for people like him growing up in Mexico City.
A North Texas couple vetted and hired a local company for their move to Oregon, not knowing someone else would be taking their things.
Big solar companies oftentimes outsource on-the-ground sales efforts to third-party companies.
As more seniors fall victim to financial scams, citizens and lawmakers search for stronger consumer protections.
Following an I-Team investigation, Sunnova Energy is facing legal action from nearly a dozen Texas families.
A viral TikTok recipe that includes melting Jolly Ranchers landed a 9-year-old in the hospital with severe burns.
The packaging label omitted a key ingredient, prompting a Food and Drug Administration recall.
Once a month, a group of veterans and first responders gathers to find healing through outdoor therapy.
Texas has the third largest population of people 50 years of age and older.
Cheese processed at plant in Lena, Illinois, may be tainted by bacteria that can cause serious and fatal infections.
The FDA says oral phenylephrine, used in many over-the-counter cough and cold medicines, "is not effective as a nasal decongestant."
Seventeen thousand workers depend on those containers to arrive by train or truck transport inside southern Dallas County’s International Inland Port.
Following an I-Team investigation, Sunnova Energy is facing legal action from nearly a dozen Texas families.
Elliott Hill is a TCU graduate and currently serves on the school's board of trustees.
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.
Stephen Curry drove past Luka Doncic for a go-ahead layup with 1:50 left before Donic missed a 13-footer in the key and Curry connected for a 3-pointer moments later, scoring 37 points as the Golden State Warriors beat the Dallas Mavericks 120-117.
It's expected to draw the biggest crowd ever for a boxing match outside of Las Vegas and it's happening in Arlington.
Dallas Cowboys quarterback Dak Prescott will undergo season-ending surgery for his torn hamstring.
Miro Heiskanen scored two of Dallas' six first-period goals, and the Stars beat the Pittsburgh Penguins 7-1.
The Dallas Cowboys are awaiting word on whether Dak Prescott will have season-ending surgery on his torn hamstring.
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."
Celebrating his Texas roots, Grammy-winning artist Leon Bridges releases "Leon," an album he calls a love letter to the city of Fort Worth.
In a significant milestone for the Texas dining scene, the Michelin Guide Texas featured exceptional restaurants in the state's four major metropolitan areas: Austin, Houston, Dallas, and San Antonio.
"Sunday Morning" looks back on the life of a music giant: producer, composer and arranger Quincy Jones, who died last Sunday at age 91.
Judith Jamison, an internationally acclaimed dancer who later served as artistic director of the Alvin Ailey American Dance Theater for two decades, has died at age 81.
Check out photos of cars, trucks and SUV's on display this year at the Texas Auto Show at the State Fair of Texas.
We take a look back at Dallas Police Chief Eddie Garcia's time in Dallas.
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.
