S.81: Default Prevention Act

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about economics and public finance
You can read the bill
Sponsor Rand Paul, R-Ky.
Total Cosponsors 0
Introduced Jan. 23, 2013
Latest Major Action Jan. 28, 2013
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Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Default Prevention Act - Requires the following to be granted 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 full payment of compensation, allowances, and benefits for members of the Armed Forces on active duty, (3) 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 (SSA); and (4) the authority of the Secretary of Health and Human Services (HHS) to make payments for items and services furnished to beneficiaries under SSA title XVIII (Medicare) and related provisions.

(Source: Congressional Research Service)

Bill Actions

Date Description
Jan. 28, 2013 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 3.
Jan. 23, 2013 Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.