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.
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.
Wednesday in North Texas will be a hot one — high temperatures are forecasted to be in the low 90s, according to CBS News Texas meteorologists.
Large hail, damaging winds and an isolated tornado are all possible.
Stars goalie Jake Oettinger stopped 22 shots, ending his six-game streak of allowing two goals or less.
Game 2 will be Thursday night in Oklahoma City.
Some Jewish students at the University of Texas at Dallas said walking on campus is a stroll into antisemitic verbal attacks and even getting spit on. Disagreement, they said, doesn't have to compel this behavior.
Large hail, damaging winds and an isolated tornado are all possible.
"Jesus was with me. He led me there."
Starbucks, once one of America's most cherished brands, is in a rut. Even long-time former CEO Howard Schultz is worried.
Stars goalie Jake Oettinger stopped 22 shots, ending his six-game streak of allowing two goals or less.
Stormy Daniels was called to the witness stand to testify at former President Donald Trump's trial in New York on Tuesday.
A Garland woman was surprised when she received a $97,000 bill for solar panels she doesn't have.
In a statement, Philips said it does not admit any wrongdoing but chose to settle "to end the uncertainty associated with litigation in the U.S."
A scammer a North Texas woman met on Instagram claimed to be a German cardiologist, and for months, the two messaged back and forth, building what she thought was a true relationship.
They found him guilty – now four jurors are explaining how they were convinced to convict Dr. Raynaldo Ortiz.
Texas police departments have the discretion to determine the frequency and extent of additional driving training for their officers. While some require driving training yearly or every other year, others do not.
Stormy Daniels was called to the witness stand to testify at former President Donald Trump's trial in New York on Tuesday.
Tens of thousands of migrants are estimated to be waiting in Mexico, in places like Ciudad Juárez where shelter space is limited and the conditions are sometimes dire.
The start date for former President Trump's classified documents trial was originally scheduled for May 20.
The lawsuit claims that the measure, signed into law by President Biden, is unconstitutional.
Without a major change, Social Security may be forced to cut benefits in 2035, a year later than previously forecast.
Self-driving 18-wheelers have longtime truckers worried about their livelihood and others concerned that the technology needs more testing to make sure the public is safe.
McDonald's concept restaurant CosMc's has taken its drink-focused menu to Dallas for its second-ever location.
With the country on the cusp of greeting the return of spring, a warm-weather treat is once again available for free for a limited time only.
Kelli and Michael Regan were looking for a new dog. The breeder they found online asked them to pay with gift cards.
Target, looking for ways to add sales, is relaunching its Target Circle loyalty program including a new paid membership with unlimited free same-day delivery in as little as an hour for orders over $35.
Steward Health Care, the struggling hospital group that owns hospitals in Massachusetts, Texas, Florida and other states, announced Monday that it is filing for bankruptcy.
The Texas dairy worker infected by H5N1 "did not disclose the name of their workplace," frustrating investigators.
A North Texas mother partnered with the Texas Health Resources Foundation to provide a potentially life-saving tool to at-risk pregnant and postpartum moms.
Plaintiffs have three months to vote on whether to approve a proposed legal settlement that would resolve nearly all talc lawsuits.
Cat deaths and neurological disease are "widely reported" around farms where the H5N1 bird flu virus was detected, health officials say.
Within hours of the vote, the U.S. Chamber of Commerce announced it would sue to block the ban. Dallas employment attorney Rogge Dunn predicts employees will ultimately win this battle.
The closure affects both Dom's locations in Chicago, and all 33 Foxtrot stores in Chicago, Texas, and the Washington D.C. area.
Texas law SB 14 prohibits drug and surgical "gender transition" interventions for minors.
The projects are expected to create at least 17,000 construction jobs and 4,500 manufacturing jobs.
After more than 40 years in business, 99 Cents Only Stores, a discount chain, announced on Thursday that it will close all 371 of its locations and cease operations.
Stars goalie Jake Oettinger stopped 22 shots, ending his six-game streak of allowing two goals or less.
Game 2 will be Thursday night in Oklahoma City.
Corey Seager hit a three-run homer in the eighth inning and the Texas Rangers rallied past the Oakland Athletics 4-2.
The announcement comes a day before the Mavericks face the Oklahoma City Thunder in the Western Conference Semifinals.
The Dallas Stars take the series 4-3 with a 2-1 victory in Game 7 over the defending champion Vegas Golden Knights.
'Bob Hearts Abishola', the acclaimed comedy, is signing off after its fifth season on CBS.
Bernard Hill died Sunday at 79. The actor was known for his roles in "Lord of the Rings" and "Titanic."
"Sunday Morning" has an exclusive behind-the-scenes look at the creation of the country singer's first post-stroke song, "Where That Came From," which blends art with artificial intelligence in a recording that captures Travis' country heart.
The start of the first civil trial stemming from the deadly crowd surge at the 2021 Astroworld festival in Texas has been delayed.
"Happy 9th Birthday, Princess Charlotte!" the Prince and Princess of Wales said in a social media post with a new photo of their daughter taken by Kate.
Jewish students on the UT Dallas campus plan to hold a news conference Wednesday to talk about the anti-Semitism happening.
A few isolated strong to severe storms are possible, mainly along and east of I-35 late Wednesday afternoon into the evening. Large hail, damaging winds and an isolated tornado are all possible. Highs will be in the low 90s.
Texas versus Oklahoma, Mavs versus Thunder, an interstate rivalry in the Western Conference semifinals.
A book club at a North Texas high school is helping athletes write new chapters in their lives.
Severe weather is possible Wednesday afternoon and evening in North Texas.
A storm chaser not only captured a massive tornado touching down in Hawley, Texas on Thursday but ended up rescuing a family of four whose home was destroyed by it.
Dallas artist Roberto Marquez traveled to the Rafah Crossing in Egypt, the U.S. capital and will attend this weekend's statewide protest in Austin.
On Friday, hundreds of thousands of fans gathered outside and all around Globe Life Field in Arlington to celebrate the Texas Rangers historical World Series win!
Babies in the neonatal intensive care unit at several Texas Health hospitals were dressed in creative costumes for Halloween.
Is that the smell of cotton candy, beignets and brisket wafting over Fair Park? It sure is, and we are here for it!