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S 82 118th Congress Senate

Full Faith and Credit Act

Official title: A bill to protect social security benefits and military pay and require that the United States Government to prioritize all obligations on the debt held by the… Show full official titleShow less

Official title: A bill to protect social security benefits and military pay and require that the United States Government to prioritize all obligations on the debt held by the public in the event that the debt limit is reached.

Introduced: February 7, 2023 Introduced by: Scott, Rick Republican · Florida See on congress.gov
Economics and Public Finance Budget deficits and national debtCongressional oversightDisability assistanceMedicare
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Military personnel and dependentsSocial security and elderly assistanceVeterans' medical careVeterans' pensions and compensation
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 26, 2023
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 6.
Jan 25, 2023
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Jan 25, 2023
Introduced in Senate
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 Latest action January 26, 2023

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 6.

 Plain-English summary Congressional Research Service

Full Faith and Credit Act

This bill requires the Department of the Treasury to prioritize certain obligations if the federal debt limit is reached and provides for a limited increase in the debt limit to fund these priorities.

If the federal government reaches the debt limit, the following obligations must be given equal priority over all other federal obligations:

  • the principal and interest on the debt held by the public;
  • Social Security benefits;
  • pay and allowances for members of the Armed Forces on active duty and members of the U.S. Coast Guard;
  • compensation, pensions, and payments for medical services provided by the Department of Veterans Affairs, and
  • the Medicare programs.

If the debt limit has been reached and incoming revenue will be insufficient to pay the priority obligations over an upcoming two-week period, the bill requires (1) Treasury to notify Congress of the expected revenue shortfall for the two-week period, and (2) the debt limit to be increased by the amount of the expected shortfall.

If the incoming revenue exceeds the expected shortfall, the excess revenue must be held in reserve and applied to the following two-week period.

 Bill text 1 version

Source documents hosted by congress.gov.

 Cosponsors 12
All 12 Republican 12
R
Scott, Tim
South Carolina · Apr 25, 2023
 R
Cruz, Ted
Texas · Feb 7, 2023
 R
Paul, Rand
Kentucky · Jan 31, 2023
 R
Barrasso, John
Wyoming · Jan 30, 2023
 R
Blackburn, Marsha
Tennessee · Jan 25, 2023
 R
Britt, Katie Boyd
Alabama · Jan 25, 2023
 R
Budd, Ted
North Carolina · Jan 25, 2023
 R
Cramer, Kevin
North Dakota · Jan 25, 2023
 R
Johnson, Ron
Wisconsin · Jan 25, 2023
 R
Lee, Mike
Utah · Jan 25, 2023
 R
Lummis, Cynthia M.
Wyoming · Jan 25, 2023
 R
Risch, James E.
Idaho · Jan 25, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 82: Full Faith and Credit Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-82/
MLA
"S. 82: Full Faith and Credit Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-82/.
Bluebook (legal)
S. 82, 118th Cong. (2026), https://openamerica.io/bill/118-S-82/.
Markdown link
[S. 82: Full Faith and Credit Act](https://openamerica.io/bill/118-S-82/)
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