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- S.1420
S.1420: A bill to require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes.
About This Bill
- This bill was introduced in the 112th Congress
- This bill is primarily about economics and public finance
- Introduced July 26, 2011
- Latest Major Action July 27, 2011
Bill Sponsor
Bill Cosponsors
34 (All Republicans)
Bill Summary
Ensuring the Full Faith and Credit of the United States and Protecting America's Soldiers and Seniors Act - Requires the following to take equal 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 authority of the Commissioner of Social...
(Source: Library of Congress)
Bill Actions
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Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
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Sponsor introductory remarks on measure.
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Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 112.
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| July 26, 2011 |
Introduced in the Senate by Patrick J. Toomey (R-Pa.) |