HR 187
118th Congress
House
Economics and Public Finance
Budget deficits and national debt
Congressional oversight
Disability assistance
Government trust funds
Social security and elderly assistance
Default Prevention Act
Introduced: January 9, 2023
Introduced by:
McClintock, Tom
Republican
· California
See on congress.gov
Everywhere this bill has been
6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 9, 2024
Placed on the Union Calendar, Calendar No. 279.
Jan 9, 2024
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-340.
Mar 9, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 17.
Mar 9, 2023
Committee Consideration and Mark-up Session Held.
Jan 9, 2023
Referred to the House Committee on Ways and Means.
Jan 9, 2023
Introduced in House
Plain-English summary
Default Prevention Act
This bill requires the Department of the Treasury to continue borrowing to pay the principal and interest on obligations held by the public or the Social Security trust funds if the federal debt limit is reached.
The bill also (1) exempts any obligations issued under this bill from the debt limit if the obligations would otherwise cause the limit to be exceeded, and (2) prohibits the obligations from being used to compensate Members of Congress.
What's happening now
Placed on the Union Calendar, Calendar No. 279.
Committees of jurisdiction
1
Cosponsors
1