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.
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.
Planned Parenthood and other abortion providers are asking for a preliminary injunction expanding the medical exemptions and blocking the hospital-only requirement.
The shooter, who was 14 years old at the time of the killing, pleaded guilty to first-degree murder.
Justice Samuel Alito has come under pressure from congressional Democrats to recuse himself from cases involving the Jan. 6, 2021, Capitol attack and former President Donald Trump.
Scottie Scheffler was arrested outside the PGA Championship in Louisville, Kentucky, earlier this month.
Members of the Public Transportation Section arrested the 15-year-old on Tuesday in the 8500 block of South Lafayette Avenue in the Chatham neighborhood.
Planned Parenthood and other abortion providers are asking for a preliminary injunction expanding the medical exemptions and blocking the hospital-only requirement.
Justice Samuel Alito has come under pressure from congressional Democrats to recuse himself from cases involving the Jan. 6, 2021, Capitol attack and former President Donald Trump.
The jury in Donald Trump's criminal trial in New York has begun deliberating the charges Trump faces.
Supporters of former President Donald Trump, including a former Wisconsin Supreme Court justice, are making a renewed effort to force a recall election of Wisconsin's top elected Republican. The first attempt failed for not having enough valid signatures.
A law that drew massive protests and made Wisconsin the center of a national fight over union rights has returned to court, facing a new challenge from teachers and public workers brought after the state's Supreme Court flipped to liberal control.
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.
With more and more such companies popping up, and salespeople showing up on doorsteps, who is making sure they're legitimate?
It also happens that the contractor was on a list specifically provided by the state.
Alderpeople are looking to try to stop rogue towers from making thousands off drivers who thought they were signing their car away to someone they could trust.
Employees at dozens of now-closed Foxtrot Market and Dom's Kitchen stores, now jobless, wonder what comes next for them as their paychecks will soon end.
Planned Parenthood and other abortion providers are asking for a preliminary injunction expanding the medical exemptions and blocking the hospital-only requirement.
Lawmakers applauded federal efforts to crack down on one of the most common opioids, illegal fentanyl.
Chicago health officials said medetomidine has not previously been detected in Chicago.
North Carolina Republicans are pushing forward with their plan to repeal a pandemic-era law, citing crime and recent campus protests.
Thursday was Mental Health Action Day and CBS is partnering with MTV to provide grants to local nonprofits that give people the tools to improve their mental health.
A law that drew massive protests and made Wisconsin the center of a national fight over union rights has returned to court, facing a new challenge from teachers and public workers brought after the state's Supreme Court flipped to liberal control.
No one was hurt but the fire burned a charred area on the outside of the mall.
The owner, Andy Kalish, says he just doesn't have the energy to keep it going.
Lagunitas will move its Chicago brewing operation to their original brewery in California by early August, and permanently close its Chicago brewery and taproom.
They are concerned about increased congestion and environmental concerns.
In his fourth special, Pepitone gets to a new level of honesty in confronting his own battles but not without social commentary
It was not specified whether Young or someone else involved in the concert was ill, and or what the ill person was suffering from.
"The Miseducation of Lauryn Hill" topped Apple Music's list while Michael Jackson's "Thriller," Stevie Wonder's "Songs in the Key of Life" and Nirvana's "Nevermind" finished in the top 10.
Those auditioning were asked to sing 16 bars a cappella from a contemporary musical theatre song to show their range.
Hip-hop mogul Sean "Diddy" Combs posted a video on social media apologizing for his "inexcusable" behavior and that he takes "full responsibility" for his actions.
The public is getting a new look at a plan to modernize O'Hare International Airport. City leaders have unveiled renderings of a crucial project to create the first of two planned satellite concourses as part of plans for a new global terminal. CBS News travel editor Peter Greenberg looks at what it will mean for the airport’s future.
It's become one reason some pay a consultant fee ranging from $50 to a few hundred. For parents Payton and Lindsay Gregory, it’s money well spent on a name that will last a lifetime.
CBS 2 Meteorologist Mary Kay Kleist has a look at the extended forecast.
A busy traffic circle in the Logan Square neighborhood is getting a makeover thanks to a $27 million redesign project.
An adult and three juveniles in a Lexus sedan ran a red light while driving north on Meacham and hit a Honda SUV traveling east on Biesterfield Road around 11:20 p.m. on Tuesday, police said. A 44-year-old woman driving a Honda SUV died in the crash on her way home from work, family members said. The four people in the Lexus were treated at the hospital and later released, police said.
A 44-year-old woman driving a Honda SUV died in the crash on her way home from work, family members said
The $53 billion budget was approved with a 65 to 45 vote in the early morning hours after it was passed by the state senate on Monday.
The former Chicago pastor was charged with sexual abuse of a minor, but ultimately pleaded guilty to lesser charges.
An investigation has been launched, and the results will be made public in the coming weeks.
Planned Parenthood and other abortion providers are asking for a preliminary injunction expanding the medical exemptions and blocking the hospital-only requirement.
The owner of the dog has already filed a lawsuit against the City of Chicago, the CPD and the officer in this case.
After learning of the woman's troubled history and other aspects of the case, lawmakers in Springfield spoke out passionately on the Illinois House floor.
Former Supt. Eddie Johnson was adamant that he is not being paid by the company to promote it. He said he just thinks it works.
Plenty of high school seniors are 18 years old, and some are even older.
Maria Roque filed numerous police reports and got a protection order. But the system that was supposed to protect her failed.
Scottie Scheffler was arrested outside the PGA Championship in Louisville, Kentucky, earlier this month.
Davis Schneider had three hits and three RBIs, and the Toronto Blue Jays beat the sliding Chicago White Sox 7-2 on a rainy Tuesday night.
Cubs starters have combined to throw 32 1/3 shutout innings against the Brewers so far this season.
Dana Evans scored 13 points, Chennedy Carter and Elizabeth Williams each added 12 points and Angel Reese had 11 points and 12 rebounds for the Sky (2-3).
The Chicago White Sox have placed right-hander Mike Clevinger on the 15-day injured list and brought up right-hander Jake Woodford from Triple-A Charlotte.
The former Chicago pastor was charged with sexual abuse of a minor, but ultimately pleaded guilty to lesser charges.
Victoria Moreno, 35, is charged with three counts of murder, one count of aggravated battery to a child, and two counts of aggravated kidnapping in the death of Josiah Brown.
Street Pastor Donovan Price said he still has to prepare himself well in advance for the violence figures.
Police aren't officially saying these burglaries are believed to be connected yet, only saying they are investigating.
During the encounter, the homeowner exchanged gunfire with one of the offenders, Winnetka police said. No one was injured in this exchange.