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S 1420 112th Congress Senate Economics and Public Finance Budget deficits and national debt Military personnel and dependents Social security and elderly assistance

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.

Introduced: July 26, 2011 See on congress.gov
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2011
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 112.
Jul 27, 2011
Sponsor introductory remarks on measure. (CR S4936-4937)
Jul 26, 2011
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Jul 26, 2011
Introduced in Senate
 Plain-English summary Congressional Research Service

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 Security to pay monthly Old Age, Survivors and Disability Insurance benefits under title II of the Social Security Act; and (3) the payment of pay and allowances for members of the Armed Forces on active duty.

What's happening now July 27, 2011

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 112.