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- H.R.422
H.R.422: Default Prevention Act
About This Bill
- Introduced Jan. 10, 2017
- Latest Major Action Jan. 10, 2017
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
89 (All Republicans)
Bill Version
- Introduced in House - Jan. 10, 2017
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
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.) |