Bill114th CongressFiled Jan 7, 2015Economics and Public Finance
S. 69
A bill to require that the Government give priority to payment of all obligations on the debt held by the public and payment of Social Security benefits in the event that the debt limit is reached.
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in senate (Jan 7, 2015)
Declares that, in the event the debt of the federal government reaches the statutory limit, the authority of the Department of the Treasury to pay with legal tender the principal and interest on debt held by the public, and 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, shall take priority over all other obligations incurred by the government.
What just happenedJan 7, 2015
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Vitter, David [R-LA](R-LA)Sponsor
1committees2actions3subjects
- Introduced in SenateJan 7, 2015
- Jan 7, 2015IntroReferral
Read twice and referred to the Committee on Finance.
- Jan 7, 2015IntroReferral10000
Introduced in Senate