H.R. 568 — 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.

Summary

Requires the authority of the Department of the Treasury to pay 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, to take priority over all other obligations incurred by the government in the event the federal debt reaches the statutory limit.

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Related Legislation

H.R. 421Full Faith and Credit Act
2011-01-25Referred to the House Committee on Ways and Means.
Related
H.R. 728To 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.
2011-02-15Referred to the House Committee on Ways and Means.
Related
S. 163Full Faith and Credit Act
2011-01-26Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 2.
Related
S. 259A 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.
2011-02-02Read twice and referred to the Committee on Finance.
Related

Legislative Actions

2011-02-09
Introduced in House
2011-02-09
Introduced in House
2011-02-09
Referred to the House Committee on Ways and Means.

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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