H.R.422: Default Prevention Act

About This Bill

Bill Cosponsors

89 (All Republicans)

Bill Version

Bill Summary

Default Prevention Act This bill requires the Department of the Treasury to continue to borrow to pay the principal and interest on certain obligations if the debt of the United States exceeds the statutory limit. If the debt limit is exceeded, Treasury must issue obligations solely for the payment of the principal and interest on debt held by the public or the Social Security trust funds. Obligations issued under this bill may not be used...

(Source: Library of Congress)

What Lawmakers Are Saying About This Bill

There is one statement associated with H.R.422.

Bill Actions

Date Description
Jan. 10, 2017
Referred to the House Committee on Ways and Means.
Jan. 10, 2017

Introduced in the House by Tom McClintock (R-Calif.)

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