H.R. 728 · 112th Congress
To require that the Government give priority to payment of all obligations on the debt held by the public…
Full title
To require that the Government give priority to payment of all obligations on the debt held by the public, payment of Social Security benefits, and military funding in the event that the debt limit is reached.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
StutzmanSponsorNo cosponsors.
Declares that, in the event the debt of the federal government reaches the statutory limit, the authority of the Department of the Treasury to pay with legal tender the principal and interest on debt held by the public, the authority of the Commissioner of Social Security to pay monthly old-age, survivors', and disability insurance benefits under title II…
What it does: CRS summary · Introduced in House · Feb 15, 2011
Declares that, in the event the debt of the federal government reaches the statutory limit, the authority of the Department of the Treasury to pay with legal tender the principal and interest on debt held by the public, the authority of the Commissioner of Social Security to pay monthly old-age, survivors', and disability insurance benefits under title II of the Social Security Act, and the authority to make any payments, or expend or obligate any funds, under any law administered by the Secretary of Defense (DOD), the Administrator for Nuclear Security, or any other administering Armed Forces Secretary, shall take priority over all other obligations incurred by the government.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To require that the Government give priority to payment of all obligations on the debt held by the public, payment of Social Security benefits, and military funding in the event that the debt limit is reached.
Latest action (Feb 15, 2011): Referred to the House Committee on Ways and Means.
Policy area: Economics and Public Finance · Origin: House · Introduced: Feb 15, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.