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.
Austin Seibert missed his second extra point of the game with 21 seconds left after Jayden Daniels and Terry McLaurin connected on an 86-yard touchdown, and the Washington Commanders lost to the Dallas Cowboys 34-26 extend their skid to three games.
The Potter's House Church shared in a statement that Jakes is stable and under the care of healthcare professionals.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Tortilla strips sold in grocery stores across the U.S. have been recalled due to concerns about an undeclared wheat allergen.
North Texas will enjoy an unusually warm Sunday with highs reaching 80 degrees, but a cold front is expected by Monday.
Austin Seibert missed his second extra point of the game with 21 seconds left after Jayden Daniels and Terry McLaurin connected on an 86-yard touchdown, and the Washington Commanders lost to the Dallas Cowboys 34-26 extend their skid to three games.
The Potter's House Church shared in a statement that Jakes is stable and under the care of healthcare professionals.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
Tortilla strips sold in grocery stores across the U.S. have been recalled due to concerns about an undeclared wheat allergen.
North Texas will enjoy an unusually warm Sunday with highs reaching 80 degrees, but a cold front is expected by Monday.
A study found that Elon Musk is the most common celebrity used in deepfake scams.
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.
Democrats say they're concerned or scared Trump will threaten their rights, but fewer than half feel motivated to oppose him.
Republican Representative David Spiller of Jacksboro and Democratic Senator Roland Gutierrez of San Antonio weigh-in on President-elect Donald Trump's mass deportation plan. Texas Agriculture Commissioner Sid Miller discusses a new agreement between the state and Mexico over badly needed water in the Rio Grande Valley. State Representative Jared Patterson discusses his newly filed bill to keep Texas children off social media. (Original air date: November 24, 2024.)
Every week, Eye on Politics breaks down some of the biggest political stories grabbing headlines in North Texas and beyond.
The sprawling U.S. Department of Agriculture controls policies, regulations and aid programs related to farming, forestry, ranching, food quality and nutrition.
The Texas Supreme Court has overturned a lower court ruling that state Attorney General Ken Paxton testify in a whistleblower lawsuit at the heart of impeachment charges brought against him in 2023.
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.
Cook Children's Medical Center has reported a record-high number of visits for respiratory viruses.
Lattes and other espresso-based drinks may not be available at some McDonald's restaurants due to a glitch with coffee machines.
Auri and her sister Suri were preparing to walk their dogs when the 8-year-old started choking.
The FDA sent a warning letter flagging "significant violations" of manufacturing regulations for Tom's of Maine toothpaste.
Overdose deaths have slowed 18% since a peak last year, the CDC estimates.
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.
Austin Seibert missed his second extra point of the game with 21 seconds left after Jayden Daniels and Terry McLaurin connected on an 86-yard touchdown, and the Washington Commanders lost to the Dallas Cowboys 34-26 extend their skid to three games.
The announcement comes days after the Wings won the first pick in the 2025 WNBA draft.
The Mavericks said Thursday their five-time All-Star will be re-evaluated in a week.
After another home blowout, fans are left wondering what to look forward to with seven games remaining.
The front office remains behind head coach Mike McCarthy, and QB Cooper Rush will continue to start.
Chuck Woolery was inducted into the American TV Game Show Hall of Fame in 2007 and earned a daytime Emmy nomination in 1978.
The Grammy nominee, 26, posted a rainbow flag emoji and short statement, then added in another post that he had been "outted."
Cynthia Erivo, Ariana Grande, AMC and fans react to the debate over in-theater singing during "Wicked."
Alice Brock, whose Massachusetts-based eatery helped inspire Arlo Guthrie's deadpan Thanksgiving standard, "Alice's Restaurant," has died at age 83.
The 17-time Grammy Award-winning artist's new album features 12 songs.
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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.
