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.
Watch CBS News
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
After days of intense negotiations and weeks of talks, an agreement in principle has been reached to raise the debt ceiling.
Everything from the stock market to Social Security payments could be jolted if the U.S. defaults on its obligations.
Even a short default could wipe out more than a million jobs, especially in parts of the U.S. that depend on federal spending.
If Congress doesn't have a deal to raise the debt ceiling by June 1, your investments could be at risk.
WBZ-TV's Courtney Cole reports.
WBZ TV's Courtney Cole reports.
If Congress can't come to an agreement by June 1, the country will default and not be able to pay its' debts.
If Congress can't come to an agreement by June 1, the country will default and not be able to pay its' debts. WBZ-TV's Mike Sullivan 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.
Massachusetts Congressman Jim McGovern said House Speaker Kevin McCarthy's "playing games" with the debt ceiling "represents an all-time high in recklessness and stupidity."
Massachusetts Congressman Stephen Lynch believes lawmakers can cross the aisle to find a solution.
We hear about it every day, but do you know what it is and how it affects you?
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.
One word comes to mind as I watch these inept egomaniacs drive us off the road: help!
Mitt Romney says the nation's credit problem arose because President Barack Obama has failed to show leadership on the economy.
Now that federal lawmakers have finally hammered out a deal to raise the nation's debt ceiling, what does this mean for taxpayers here in Massachusetts?
Jay Gonzalez, the state's budget chief says he is relieved with the action taken in Washington, but uncertain about what is ahead.
In relation to the trillion dollar estimates made by both the Senate and the House,what was the longshot figure that the stock market lost over the past week? My feeling is that the trillions lost in the market exceeded the trillions that the Senate and House were squabbling about. - Stan
The bill is expected to pass, but the debt debate is far from over.
Gridlock, chaos, and 11th hour can-kicking? Of course that's what we're getting. That's exactly what we ordered.
We've Reached A Fork In The Road
The Massachusetts' congressional delegation is protesting a warning from a major credit rating agency that they might downgrade the credit ratings of several municipalities in the state. Moody's Investors Service announced it would review the possible downgrade of U.S. municipalities and other institutions due to the indirect effects of the possible downgrade of federal government bonds because of the ongoing impasse over the federal debt limit. Moody's has listed 162 local governments in 31 states.
Mayors from across Massachusetts are calling upon national lawmakers to reach a deal in the debt ceiling talks.
The Boston Red Sox beat the Toronto Blue Jays 6-4 on Friday night.
An early-morning fire ripped through a home on Red Brook Road in Falmouth, claiming the life of a man in his 70s.
Police say it was a case of alleged littering that sparked a road rage incident in Hingham, Massachusetts.
DeAndre Hopkins will be with the New England Patriots for the start of training camp this week, but not for a tryout.
Some of the oldest military veterans in Massachusetts were honored with special flights on Friday in a World War II-era aircraft.
Police say it was a case of alleged littering that sparked a road rage incident in Hingham, Massachusetts.
Patrick Clancy's motion to suppress media access to his 911 call and pictures of his deceased children at Lindsay Clancy's murder trial was approved by a judge Friday.
Renderings show what the new Sagamore Bridge will look like on Cape Cod.
Former Boston Children's Hospital nurse John Tam is charged with sexually assaulting minors.
The Boston Red Sox beat the Toronto Blue Jays 6-4 on Friday night.
Several people in New Hampshire have cyclospora infections linked to Taylor Farms lettuce.
Taylor Farms said none of its branded salads or kits contain the iceberg lettuce associated with the outbreak.
A lettuce supplier to fast-food giant Taco Bell has been linked to a nationwide cyclosporiasis outbreak that has sickened thousands of people, the CDC said.
Massachusetts is reporting cases of cyclosporiasis, a disease caused by a stomach parasite that can lead to "explosive" diarrhea.
Many people fear that a family history of dementia dooms them to inevitably suffer the condition themselves. But a new tool, the Brain Care Score, shows how lifestyle changes can be beneficial, cutting the risk of dementia.
An I-Team investigation into a brazen case of alleged land theft in Concord, Massachusetts has led to criminal charges nearly two years later.
With the Brigham and Women's Hospital nurses strike looming, some parents of newborns in the NICU are sounding the alarm.
A Malden, Massachusetts woman said National Grid took more than $28,000 out of her bank account for a gas bill that she didn't owe.
A Massachusetts family thought their Vrbo stay would be protected after they had to cancel their trip to Hawaii due to severe weather. Now they're out $12,000.
A driver from Southboro, Massachusetts struggled for months to unravel a frustrating mix up with his E-ZPass account.
Barney Frank, a Democrat who represented Massachusetts in Congress for 32 years, has died. He was 86 years old.
Both the Trump and Healey administrations are using government websites to blame each other for the shutdown.
Which party stands to take more of the blame from voters for the government shutdown? Here's what a new poll says.
A UNH Survey Center/Granite State poll shows John Sununu crushing Scott Brown by 23 points among likely primary voters in New Hampshire.
Seth Moulton said he's running against Sen. Ed Markey because "our party leaders are clinging to that old playbook."
Breaking Grounds Cafe, a Peabody, Massachusetts coffee shop known for employing people with disabilities, is closing.
The buildings that house the Somerville Theatre and the Capitol Theatre in Arlington, Massachusetts are for sale.
Golden Temple and Party Favors in Brookline are closing after a combined 100 years in business.
There are no more Hooters restaurants left in Massachusetts.
There's a proposal in Cambridge to limit customers at bars and restaurants to one drink every 30 minutes.
Beauport, the Sleeper-McCann House has become one of New England's most imaginative seaside estates.
Blending clean modern lines with the warmth of a classic seaside retreat, this stunning North Shore coastal home was designed to feel both elevated and inviting.
Set across thirty acres of rolling lawns, wooded trails, and contemporary outdoor art, deCordova Sculpture Park and Museum invites visitors to experience art in the landscape.
James Beard Award-winning chef and restaurateur Karen Akunowicz has become known for her bold, Italian-inspired cooking and unmistakable culinary voice.
Just a short drive from Newport, the Norman Bird Sanctuary spans 300 acres of fields, forests, and coastal trails with sweeping views and more than six miles of hiking paths.
The Boston Red Sox beat the Toronto Blue Jays 6-4 on Friday night.
DeAndre Hopkins will be with the New England Patriots for the start of training camp this week, but not for a tryout.
The Sixers' wild offseason continued Friday when they added four-time NBA champion LeBron James.
The Baltimore Orioles ended Boston's franchise record-tying 15-game winning streak, defeating the Red Sox 5-1 in the nightcap of a doubleheader on Wednesday.
The Boston Red Sox tied a franchise record in the first game of a doubleheader, beating the Baltimore Orioles for their 15th straight win.
Some of the oldest military veterans in Massachusetts were honored with special flights on Friday in a World War II-era aircraft.
After marrying Taylor Swift and Travis Kelce, Adam Sandler went to Nantucket in search of a basketball court.
An injured hiker had to be carried off a New Hampshire mountain on a stretcher, but that didn't stop her from getting engaged.
A seal pup was spotted hanging ten on a boogie board off the cost of Maine this Fourth of July.
Avi Loeb, a Harvard astronomer who has made headlines with his theories about alien encounters, will lead a White House scientific advisory council on UFOs.