U.S. debt ceiling has been reinstated
The debt ceiling currently stands at about $36.1 trillion.
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The debt ceiling currently stands at about $36.1 trillion.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
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.
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.
Cell phone video shows Monday's takeover as it turned destructive, with teens filling the streets and running on top of cars.
Experts said some of the most severe damage may not be visible to the naked eye.
Cubs starter Jameson Taillon gave up two hits over 4 2/3 innings in his season debut.
Munetaka Murakami singled to drive in Edgar Quero, and Andrew Benintendi hit a line drive to right field to bring Acuña home and give the White Sox a 2-0 lead in the second.
Anyone with information is asked to contact the police.
A federal judge has temporarily blocked the Trump administration's construction of a 90,000-square-foot ballroom to replace the White House's East Wing,
The Supreme Court ruled in favor of a Colorado counselor who challenged a law banning conversion therapy for minors, ruling that lower courts failed to apply "sufficiently rigorous First Amendment scrutiny."
Lawyers for the man charged with killing Charlie Kirk are citing a federal agency's report in questioning the link between a bullet from his autopsy and a rifle found near the scene.
Skyrocketing property taxes continue to be a hot-button issue in Cook County — particularly since last fall, when many residents saw their tax bills increase by 100% or more.
Organizers estimated that at least 8 million people took part in more than 3,300 "No Kings" events worldwide.
Skyrocketing property taxes continue to be a hot-button issue in Cook County — particularly since last fall, when many residents saw their tax bills increase by 100% or more.
Illinois Secretary of State Alexi Giannoulias this weekend issued a warning about a surge in text messages that falsely claim to come from his office or the DMV within it.
Tenants at a South Loop luxury high-rise that has been plagued with problems like broken elevators are vowing to fight five-day eviction notices.
It's become an annual March Madness tradition at CBS Chicago, pitting our city's best eateries in direct competition in a foodie bracket challenge. We did pizza, we've done Italian beef, we've done Chicago dogs. This year, we're taking flight with wings.
For Cook County residents hoping to lower their property tax bills, applications are open for exemptions.
Allergy season is here, and the dreaded pollen can trigger sneezing, congestion, wheezing, and shortness of breath.
Northwestern Medicine and the American Red Cross teamed up for a community blood drive in Chicago on Monday morning.
Ending domestic violence is the goal of groups and advocates all over the world, and some experts in Chicago say it is time to become less reactive and more proactive when it comes to the people causing harm.
A new Iowa law bans local nondiscrimination protections on the basis of gender identity after the state became the first in the U.S. to roll back its civil rights code last year.
Food containing norovirus may smell and taste normal but still cause serious illness if consumed, FDA warns.
The owners of the popular Uncommon Ground restaurant, live music venue, and brewery in Chicago's Wrigleyville community announced this week that they're looking for a successor to take over the business.
Chicago consistently ranks in the top three cities in Fortune 500 company headquarters, and now a competition has been launched to build on Chicago's power in business.
The flagship Ann Sather restaurant on Belmont Avenue in Chicago's Lakeview community will be moving later this year, a restaurant representative said Tuesday.
Chicago Bulls legend Scottie Pippen threw some shade at former teammate Michael Jordan in a new pop commercial.
The City Council in Aurora, Illinois, is likely to lay down the hammer on data centers.
A Las Vegas performer has sued Taylor Swift over the title of her hit album "The Life of a Showgirl," alleging it violates the performer's trademark.
Chicago-native John Mulaney announced a new stop at the Wisconsin State Fair this summer.
Following a ribbon-cutting attended by Chicago Mayor Brandon Johnson on Saturday, people were let inside the new space, at 5035 N. Broadway right off Argyle Street, for a special open house.
Chuck Norris' family said his death at 86 was sudden, but did not share any details on the cause.
ABC has canceled its already filmed season of "The Bachelorette" starring Taylor Frankie Paul after video surfaced of a 2023 incident in which she was charged with assault.
Preliminary information indicated that the victim, a 55-year-old man, was attempting to load a large metal spool onto a flatbed truck using an overhead crane.
Despite the large number of teens in Hyde Park for that takeover, Chicago police said they issued just three curfew violations and charged a 16-year-old girl for unlawful possession of a weapon.
Despite that timeline, more U.S. troops are heading to the region. Thousands of sailors left Virginia on Tuesday morning.
The locations of the possible exposure include O'Hare Airport, Terminal 5, on March 24, between 10:45 a.m. and 2:30 p.m., and in Niles, Illinois, at the Fresh Farms at 8203 W. Golf Rd. around 9 p.m. and Marshalls at 8249 W. Golf Rd., around 9:30 p.m., both on March 26.
While Chicagoans have already seen their fair share of water, many in the southwestern suburbs near Joliet have been hit with multiple hailstorms.
Fallen Chicago firefighter/EMT Michael Altman was laid to rest Tuesday. The service was small and private, unlike the original plan.
Preliminary information indicated that the victim, a 55-year-old man, was attempting to load a large metal spool onto a flatbed truck using an overhead crane when it gave way.
A proposal by the Francis W. Parker School to acquire more neighboring condos is once again up for discussion at Tuesday evening's community meeting in Lincoln Park.
Cell phone video shows Monday's takeover as it turned destructive, with teens filling the streets and running on top of cars.
Experts said some of the most severe damage may not be visible to the naked eye.
Johnson said the position was temporary, but when the chief homelessness officer was first appointed, she told CBS News Chicago that her role was funded for three years, not two.
A former stand-out college football star with a criminal history has been convicted of sexually abusing foster children who were in the care of a Chicago facility at the center of a massive investigation.
Two more women have filed lawsuits against Massage Envy, accusing the company of failing to protect them against sexual assaults by two of their therapists.
Homeowners in Berwyn said they are constantly having to pump out sewage to keep it from flooding their basements.
CBS News Chicago learned that she was hired at the school in Mundelein in 2023, which was after DCFS found credible evidence that Servant had injured her children as a form of discipline.
Cubs starter Jameson Taillon gave up two hits over 4 2/3 innings in his season debut.
Munetaka Murakami singled to drive in Edgar Quero, and Andrew Benintendi hit a line drive to right field to bring Acuña home and give the White Sox a 2-0 lead in the second.
For the first time ever, Wrigley Field will host two matches for Big Ten women's volleyball later this year.
Tiger Woods was arrested last week in Florida and charged with driving under the influence after a vehicle crash.
Vargas' slam in the fourth gave the White Sox an 8-0 cushion.
The U.S. Postal Inspection Service announced Tuesday that it was offering a reward of $100,000 for information leading to the arrest of each of three accomplices in numerous mail thefts in Chicago.
A St. Charles, Illinois, man was being held on multiple felony counts Tuesday on allegations that he took upskirt videos of 33 women and two minor girls.
Charges were pending Tuesday morning against a man accused of shooting and killing a man and woman in Chicago's East Garfield Park neighborhood.
A shooting investigation led to the brief overnight closure of the outbound lanes of the Eisenhower Expressway on Chicago's West Side early Tuesday.
Lawyers for the man charged with killing Charlie Kirk are citing a federal agency's report in questioning the link between a bullet from his autopsy and a rifle found near the scene.
