US Congress House Bill 728 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 15 2011 - 25% progression, died in committee
Action: 2011-02-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

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.

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.

Rep. Marlin Stutzman [R-IN]

Date	Chamber	Action
2011-02-15	House	Referred to the House Committee on Ways and Means.

HB568 (Related) 2011-02-09 - Referred to the House Committee on Ways and Means.
SB259 (Related) 2011-02-02 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/728/all-info
Text	https://www.congress.gov/112/bills/hr728/BILLS-112hr728ih.pdf