US SB259 | 2011-2012 | 112th Congress

US Congress Senate Bill 259 (Prior Session Legislation)

Status

Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on February 2 2011 - 25% progression, died in committee
Action: 2011-02-02 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

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.

History

Date	Chamber	Action
2011-02-02	Senate	Read twice and referred to the Committee on Finance.

Same As/Similar To

HB421 (Related) 2011-01-25 - Referred to the House Committee on Ways and Means.
HB568 (Same As) 2011-02-09 - Referred to the House Committee on Ways and Means.
SB163 (Related) 2011-01-26 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 2.
HB728 (Related) 2011-02-15 - Referred to the House Committee on Ways and Means.