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S 1740 115th Congress Senate

Default Prevention Act

Official title: A bill to provide guidance and priorities for Federal Government obligations in the event that the debt limit is reached and to provide a limited and temporary… Show full official titleShow less

Official title: A bill to provide guidance and priorities for Federal Government obligations in the event that the debt limit is reached and to provide a limited and temporary authority to exceed the debt limit for priority obligations.

Introduced: August 3, 2017 Introduced by: Paul, Rand Republican · Kentucky See on congress.gov
Economics and Public Finance Budget deficits and national debtCongressional oversightMedicareMilitary personnel and dependents
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Social security and elderly assistanceVeterans' education, employment, rehabilitationVeterans' loans, housing, homeless programsVeterans' medical careVeterans' pensions and compensation
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 3, 2017
Read twice and referred to the Committee on Finance.
Aug 3, 2017
Introduced in Senate
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 Latest action August 3, 2017

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Default Prevention Act

This bill requires the following obligations to be granted priority over all other U.S. obligations if the public debt reaches the statutory limit:

  • principal and interest on debt held by the public;
  • compensation, allowances, and benefits for members of the Armed Forces on active duty;
  • Social Security benefits;
  • Medicare benefits; and
  • obligations under any program administered by the Department of Veterans Affairs.

If Congress is notified, the Department of the Treasury may issue additional debt for the priority obligations in excess of the debt limit. Treasury may issue the additional debt during the 30-day period beginning on the date on which the United States is unable to use revenues or extraordinary measures to fully pay the priority obligations at the time they are due.

(The term "extraordinary measures" refers to a series of actions that Treasury may implement to allow the United States to borrow additional funds without exceeding the debt limit. The measures generally include suspensions or delays of debt sales and suspensions or redemptions of investments in certain government funds.)

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1740: Default Prevention Act. 115th Congress. Open America. https://openamerica.io/bill/115-S-1740/
MLA
"S. 1740: Default Prevention Act." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-S-1740/.
Bluebook (legal)
S. 1740, 115th Cong. (2026), https://openamerica.io/bill/115-S-1740/.
Markdown link
[S. 1740: Default Prevention Act](https://openamerica.io/bill/115-S-1740/)
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