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H.R. 692 114th Congress House

Default Prevention Act

Official title: To ensure the payment of interest and principal of the debt of the United States.

Introduced: February 3, 2015 Introduced by: Tom McClintock Republican · California See on congress.gov
Economics and Public Finance Budget deficits and national debtCongressional oversightGovernment employee pay, benefits, personnel managementGovernment trust funds
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Interest, dividends, interest ratesMembers of CongressSecuritiesSocial security and elderly assistance
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 18 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 22, 2015
Received in the Senate.
Oct 21, 2015
Motion to reconsider laid on the table Agreed to without objection.
Oct 21, 2015
On passage Passed by the Yeas and Nays: 235 - 194 (Roll no. 557). (text: CR H7053-7054)
Oct 21, 2015
Considered as unfinished business. (consideration: CR H7077)
Oct 21, 2015
POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 692, the Chair put the question on adoption the bill, and by voice vote announced that the ayes had prevailed. Mr. Levin demanded the yeas and nays, and the Chair postponed further proceedings on the question of adoption until later in the legislative day.
Oct 21, 2015
The previous question was ordered pursuant to the rule. (consideration: CR H7060)
Oct 21, 2015
DEBATE - The House proceeded with one hour of debate on H.R. 692.
Oct 21, 2015
Resolution provides for consideration of both H.R. 10 and H.R. 692.
Oct 21, 2015
Considered under the provisions of rule H. Res. 480. (consideration: CR H7053-7060)
Oct 21, 2015
Rule H. Res. 480 passed House.
Oct 20, 2015
Rules Committee Resolution H. Res. 480 Reported to House. Resolution provides for consideration of both H.R. 10 and H.R. 692.
Sep 18, 2015
Placed on the Union Calendar, Calendar No. 201.
Sep 18, 2015
Reported by the Committee on Ways and Means. H. Rept. 114-265.
Sep 10, 2015
Ordered to be Reported by the Yeas and Nays: 23 - 15.
Sep 10, 2015
Committee Consideration and Mark-up Session Held.
Feb 3, 2015
Referred to the House Committee on Ways and Means.
Feb 3, 2015
Sponsor introductory remarks on measure. (CR H708)
Feb 3, 2015
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Oct 21, 2015 House · vote #557 On Passage Passed 235–194 See who voted →
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 Latest action October 22, 2015

Received in the Senate.

 Plain-English summary Congressional Research Service

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Default Prevention Act

(Sec. 2) 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 is required to issue obligations solely for the payment of the principal and interest on debt held by the public or the Social Security trust funds. The bill prohibits Treasury from using obligations issued under this bill to compensate Members of Congress.

If Treasury exercises authority provided by this bill, a report must be submitted to Congress including an accounting of: (1) the principal on mature obligations and interest that is due or accrued, and (2) obligations issued under this bill.

 Related & companion bills 3
  • HRES 480 Procedurally related Providing for consideration of the bill (H.R. 10) to reauthorize the Scholarships for Opportunity and Results Act, and …
  • S 2181 Default Prevention Act
  • HR 3753 Debt Ceiling Alternative Act
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 54
All 54 Republican 33
Bishop, Mike
· Sep 15, 2015
 R
Palmer, Gary J.
Alabama · Sep 11, 2015
 R
Guthrie, Brett
Kentucky · Sep 10, 2015
JOHNSON, SAM
· Jul 23, 2015
 R
Grothman, Glenn
Wisconsin · Jul 14, 2015
Roby, Martha
· Jul 14, 2015
Walker, Mark
· Jul 14, 2015
 R
DesJarlais, Scott
Tennessee · Jul 9, 2015
Labrador, Raul
· Jul 9, 2015
Collins, Doug
· Jul 8, 2015
 R
Gosar, Paul A.
Arizona · Jul 8, 2015
 R
Kelly, Mike
Pennsylvania · Jul 8, 2015
 R
Latta, Robert E.
Ohio · Jul 8, 2015
 R
Wagner, Ann
Missouri · Jul 8, 2015
 R
Walberg, Tim
Michigan · Jul 8, 2015
 R
Lucas, Frank D.
Oklahoma · Jun 25, 2015
 R
Scalise, Steve
Louisiana · Jun 25, 2015
THORNBERRY, WILLIAM
· Jun 25, 2015
 R
Babin, Brian
Texas · Jun 24, 2015
Duffy, Sean
· Jun 24, 2015
Chaffetz, Jason
· Jun 17, 2015
Gowdy, Trey
· Jun 17, 2015
 R
Stutzman, Marlin A.
Indiana · Jun 17, 2015
BARTON, JOE
· Jun 11, 2015
 R
Harris, Andy
Maryland · Jun 11, 2015
 R
Cole, Tom
Oklahoma · Jun 10, 2015
 R
Foxx, Virginia
North Carolina · Jun 10, 2015
Graves, Tom
· Jun 10, 2015
 R
Hudson, Richard
North Carolina · Jun 10, 2015
 R
Jordan, Jim
Ohio · Jun 10, 2015
 R
Lummis, Cynthia M.
Wyoming · Jun 10, 2015
ROHRABACHER, DANA
· Jun 10, 2015
Sanford, Mark
· Jun 10, 2015
 R
Schweikert, David
Arizona · Jun 10, 2015
 R
Sessions, Pete
Texas · Jun 10, 2015
Young, David
· Apr 29, 2015
 R
Zinke, Ryan K.
Montana · Apr 29, 2015
 R
Emmer, Tom
Minnesota · Apr 15, 2015
 R
Barr, Andy
Kentucky · Feb 3, 2015
 R
Blackburn, Marsha
Tennessee · Feb 3, 2015
Blum, Rod
· Feb 3, 2015
Brat, Dave
· Feb 3, 2015
 R
Cramer, Kevin
North Dakota · Feb 3, 2015
DeSantis, Ron
· Feb 3, 2015
 R
Fleischmann, Charles J. "Chuck"
Tennessee · Feb 3, 2015
Hensarling, Jeb
· Feb 3, 2015
 R
Loudermilk, Barry
Georgia · Feb 3, 2015
Rothfus, Keith
· Feb 3, 2015
 R
Rouzer, David
North Carolina · Feb 3, 2015
 R
Scott, Austin
Georgia · Feb 3, 2015
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APA
U.S. Congress. (2026). H.R. 692: Default Prevention Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-692/
MLA
"H.R. 692: Default Prevention Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-692/.
Bluebook (legal)
H.R. 692, 114th Cong. (2026), https://openamerica.io/bill/114-HR-692/.
Markdown link
[H.R. 692: Default Prevention Act](https://openamerica.io/bill/114-HR-692/)
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