President Biden to address nation after passage of debt ceiling bill

BUILDING ON BROADWAY NEAR WEST 112th STREET IN INWOOD. THE FDNY SAYS FIREFIGHTERS GOT GOT THE CALL AROUND 3:30 THIS MORNING. NO INJURIES WERE REPORTED. >>> TONIGHT, PRESIDENT BIDEN WILL ADDRESS THE NATION AFTER THE PASSAGE OF THE DEBT CEILING BILL. >> THIS COMES DESPITE OPPOSITION TO THE BILL IN BOTH PARTIES. THE NEWS OF THE BILL DID SEND THE STOCK MARKET SOARING. THE DOW UP MORE THAN 700 POINTS. S&P ENDING 61 POINTS HIGHER. THE NASDAQ NUMBER 139 POINTS UP. CBS2’S DICK BRENNAN HERE WITH MORE ON THE DEAL. >> THE PRESIDENT WILL SIGN THE BILL AHEAD OF MONDAY’S

DEADLINE. WHEN THE TREASURY SECRETARY SAID THE U.S. WOULD START RUNNING OUT OF MONEY TO PAY ITS BILLS. THE DEAL LIFTS THE LIMIT AND CUT SPENDING. CHUCK SCHUMER CELEBRATED THE WIN AND BROUGHT HIS BROOKLYN WITH HIM. >> THE HARD RIGHT REPUBLICANS WANTED TO CUT INVESTMENTS BY AS MUCH AS 30%. ALL OF THESE VITAL PROGRAMS 30%. AS WE SAY IN OAKLAND, AND FW. THAT AIN’T HAPPENING. >> Reporter: SENATOR CHUCK SCHUMER DID NOT MIND BRINGING SOME SWAGGER TODAY AFTER A HARD- FOUGHT BATTLE. >> REPUBLICANS EVEN PLAYED DOWN TODAY WE DEMOCRATS ARE PROUD TO DECLARE THAT AIN’T HAPPENING. >>

Reporter: MANY PROMINENT DEAL WAS A RAW DEAL. >> IT TAKES FOOD AWAY FROM HUNGRY PEOPLE. IT MAKES STUDENTS WHO ARE STRUGGLING ON STUDENT LOAN DEBT LOCKED IN

HARDER ON MAKING THEIR PAYMENTS. >> CORPORATE AMERICA IS PRETTY HAPPY. HEY, WE DON’T HAVE TO PAY A NICKEL MORE IN TAXES. FOSSIL FUEL INDUSTRY DOING GREAT. THEY’RE GOING TO GET A FAST TRACK FOR A PIPELINE THAT WE DON’T NEED. >> Reporter: NONETHELESS, THE PASSAGE WAS A VICTORY FOR HOUSE SPEAKER KEVIN McCARTHY. THAT HAD SENATOR MITT ROMNEY TALKING BASEBALL. >> IS IT A HOME RUN? NO. MAYBE A SINGLE. MAYBE

A DOUBLE. I DON’T THINK ANYONE EXPECTED KEVIN McCARTHY COULD DELIVER ANY BASERUNNERS AT ALL. >> Reporter: SUPPORTERS SAY IT WAS A PRODUCT OF THE RARE COMMODITY IN WASHINGTON, COMPROMISE. >> BOTH SIDES ACTUALLY MADE CONCESSIONS. WE SHOULD BE PROUD ABOUT SEEING OUR GOVERNMENT WORK IN SUCH A FASHION. >> Reporter: PRESIDENT BIDEN WILL TAKE HIS OWN VICTORY LAP TONIGHT WHEN HE ADDRESSES THE NATION. >> THERE IS A GRAVITY OF THIS MOMENT. THE PRESIDENT WANTED TO MAKE SURE YOU ADDRESS THE AMERICAN PEOPLE DIRECTLY. >> Reporter: THE PRESIDENT WILL LIKELY TALK ABOUT STRONG JOB NUMBERS AND ALSO TRY TO

SHORE UP HIS PROGRESSIVE BASE. THE BILL IMPOSES WORK REQUIREMENTS ON SOME FOOD STAMP RECIPIENTS AMONG OTHER