S. 81 · 113th Congress
Default Prevention Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PaulSponsorNo cosponsors.
Default Prevention Act - Requires the following to be granted priority over all other federally incurred obligations in the event that the public debt reaches the statutory limit: (1) the authority of the Department of the Treasury to pay with legal tender the principal and interest on debt held by the public; (2) the full payment of compensation,…
What it does: CRS summary · Introduced in Senate · Jan 23, 2013
Default Prevention Act - Requires the following to be granted priority over all other federally incurred obligations in the event that the public debt reaches the statutory limit: (1) the authority of the Department of the Treasury to pay with legal tender the principal and interest on debt held by the public; (2) the full payment of compensation, allowances, and benefits for members of the Armed Forces on active duty, (3) 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 (SSA); and (4) the authority of the Secretary of Health and Human Services (HHS) to make payments for items and services furnished to beneficiaries under SSA title XVIII (Medicare) and related provisions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Default Prevention Act
Latest action (Jan 28, 2013): Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 3.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Jan 23, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.