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.
Playing for the center runs deeper than learning just the fundamentals of the game.
"Stuff like this shouldn't be happening at all."
Monday mornings feels like temperatures won't be terrible, so get outside before the heat turns up.
Some friendly competition filled the air outside AT&T Stadium with the sizzling rivalry among seasoned fans.
The Cowboys take on Baltimore at home next Sunday.
Playing for the center runs deeper than learning just the fundamentals of the game.
"Stuff like this shouldn't be happening at all."
Monday mornings feels like temperatures won't be terrible, so get outside before the heat turns up.
Some friendly competition filled the air outside AT&T Stadium with the sizzling rivalry among seasoned fans.
The Cowboys take on Baltimore at home next Sunday.
The company owns 30 hospitals nationwide, including five in Texas,
For months, Allen police spent weeks making undercover purchases at smoke shops across the city, then sending the THC products for testing at a certified lab in North Texas.
The CBS News Texas I-Team went inside the investigation, from the undercover purchases to the lab testing and parents who said stores were selling to their kids.
Once afraid to tell her story, Natalee Cramer now wants her voice heard.
In an incident raising questions about school discipline and law enforcement practices, police handcuffed a 10-year-old girl with learning disorders following an incident at school.
Former President Donald Trump is "safe and unharmed" and a suspect is in custody after allegedly pointing a high-powered rifle through golf course fence, officials said.
The former first lady, senator, secretary of state and presidential nominee opens up about personal matters in her new book, "Something Lost, Something Gained: Reflections on Life, Love, and Liberty."
With the economy at the top of voters' concerns, Eye on Politics reporter Jack Fink compares the economic and tax plans proposed by Vice President Kamala Harris and former President Donald Trump. Plus, a passionate discussion after the debate over abortion and a victory for college students who challenged the Tarrant County Judge's proposal to remove early voting locations from their campuses.
Trump told reporters,"We're going to have the largest deportation in the history of our country," starting with Ohio and Colorado — "Springfield and Aurora," he said.
Asked to advise Catholic U.S. voters on the choice between Kamala Harris and Donald Trump, Pope Francis had harsh words, but no firm guidance.
A viral TikTok recipe that includes melting Jolly Ranchers landed a 9-year-old in the hospital with severe burns.
Richardson residents continue to recover from storms that hit North Texas with winds that created debris and damages to homes.
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.
Over the past several months, the CBS News Texas I-Team has reported on solar panel horror stories. This time, we set out to find a success story.
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.
Thanks to vaccinations, measles was declared eliminated in the U.S. in 2000. But measles cases are now back; one reason is that more families have exempted their children from routine immunizations than ever before.
A third of the cinnamon powders and spice mixtures tested yielded alarming results, advocacy group's study finds.
Food dyes in popular snacks have been linked to adverse health outcomes in kids, says state legislature.
An advisory from the nation's top doctor draws attention to the importance of parents' mental health and well-being.
From 1999-2023, the Journal of American Medical Association recorded 21,518 deaths where heat was either the underlying cause or the contributing cause of death, likely an underestimation, they say.
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.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
Consumer confidence in the deal remains as unguaranteed as a nod from the feds.
Dallas-based American Rounds says more than 200 stores in Texas are requesting a machine.
Playing for the center runs deeper than learning just the fundamentals of the game.
Some friendly competition filled the air outside AT&T Stadium with the sizzling rivalry among seasoned fans.
The Cowboys take on Baltimore at home next Sunday.
It was the conclusion of a long journey for the top pitching prospect in the Rangers organization.
It's the second sports hernia surgery for Seager in the last 12 months
Former President Donald Trump declared "I hate Taylor Swift!" in a Truth Social post Sunday, days after she endorsed Kamala Harris.
John Legend posted a video to Instagram denouncing Trump's false claim about Haitian migrants: "Nobody's eating cats. Nobody's eating dogs," Legend said.
Justin Timberlake pleaded guilty Friday to driving while ability impaired on Long Island. He spoke to reporters after the plea, saying he made a mistake, and urged people not to get behind the wheel if they had even one drink.
Despite her controversial performance at the Paris Olympics, Australian breakdancer Raygun is ranked No. 1 by The World DanceSport Federation.
Legendary R&B singer and Philadelphia native Frankie Beverly has passed away, his family announced on Instagram Wednesday.
Anyone who knew Johnson in his hometown will attest that his work ethic was unmatched and the Oak Cliff native was destined for greatness.
Heat indices will reach triple digits this week in many parts of North Texas.
The buses are part of Trinity Metro's Orange line, which also links TEXrail on the northside. So, riders can take TEXrail from the airport to north Fort Worth, visit the Stockyards and downtown with no need for a rental car.
Efforts to ban TikTok will be tried in an appeals court beginning Monday. Oral arguments begin in Washington, D.C. Last April, COngress passed a bill that would ban TikTok by mid-January unless the parent company sells it.
A Saturday night homecoming dance at Weatherford High School took an unexpected turn, prompting a swift response from local law enforcement.
Stars, stripes and plenty of fun in the sun is how Fort Worth celebrates the Fourth of July.
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.
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.
