S. 92 · 113th Congress
A bill to require that the Government give priority to payment of all obligations on the debt held by the…
Full title
A bill to require that the Government give priority to payment of all obligations on the debt held by the public and payment of Social Security benefits 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 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
VitterSponsorNo 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, and 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 Senate · Jan 23, 2013
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, and 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, 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: A bill to require that the Government give priority to payment of all obligations on the debt held by the public and payment of Social Security benefits in the event that the debt limit is reached.
Latest action (Jan 23, 2013): Read twice and referred to the Committee on Finance.
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.