Us Congress 2025-2026 Regular Session

Us Congress House Bill HB82 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 182
5	5	To ensure the payment of interest and principal of the debt of the United
6	6	States.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	JANUARY3, 2025
9	9	Mr. M
10	10	CCLINTOCKintroduced the following bill; which was referred to the
11	11	Committee on Ways and Means
12	12	A BILL
13	13	To ensure the payment of interest and principal of the debt
14	14	of the United States.
15	15	Be it enacted by the Senate and House of Representa-1
16	16	tives of the United States of America in Congress assembled, 2
17	17	SECTION 1. SHORT TITLE. 3
18	18	This Act may be cited as the ‘‘Default Prevention 4
19	19	Act’’. 5
20	20	SEC. 2. PAYMENT OF OBLIGATIONS. 6
21	21	(a) I
22	22	NGENERAL.—At any time that the debt of the 7
23	23	United States Government subject to limitation under sec-8
24	24	tion 3101 of title 31, United States Code, has reached the 9
25	25	limitation imposed under such section, the Secretary of 10
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28	28	•HR 182 IH
29	29	the Treasury (hereafter in this section referred to as ‘‘the 1
30	30	Secretary’’) shall— 2
31	31	(1) pay Tier I obligations as such obligations 3
32	32	become due, 4
33	33	(2) issue such obligations under chapter 31 of 5
34	34	title 31, United States Code, as— 6
35	35	(A) are necessary to make the payments 7
36	36	described in paragraph (1), or 8
37	37	(B) are to be held exclusively by a trust 9
38	38	fund referred to in subsection (b)(1)(A), 10
39	39	(3) pay Tier III obligations only to the extent 11
40	40	that the Secretary can still pay all Tier II obliga-12
41	41	tions as such obligations become due, 13
42	42	(4) pay Tier IV obligations only to the extent 14
43	43	that the Secretary can still pay all Tier II and Tier 15
44	44	III obligations as such obligations become due, 16
45	45	(5) pay Tier V obligations only to the extent 17
46	46	that the Secretary can still pay all Tier II, Tier III, 18
47	47	and Tier IV obligations as such obligations become 19
48	48	due, and 20
49	49	(6) submit to the Committee on Ways and 21
50	50	Means of the House of Representatives and the 22
51	51	Committee on Finance of the Senate a weekly writ-23
52	52	ten report containing the information described in 24
53	53	subsection (d). 25
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56	56	•HR 182 IH
57	57	(b) DEFINITIONS.—For purposes of this section— 1
58	58	(1) T
59	59	IER I OBLIGATIONS.—The term ‘‘Tier I 2
60	60	obligations’’ means payments necessary to provide 3
61	61	any of the following: 4
62	62	(A) Payment with legal tender pursuant to 5
63	63	the authority provided under section 3123 of 6
64	64	title 31, United States Code, of principal and 7
65	65	interest on debt held by— 8
66	66	(i) the public, 9
67	67	(ii) the Federal Old-Age and Sur-10
68	68	vivors Insurance Trust Fund or the Fed-11
69	69	eral Disability Insurance Trust Fund, or 12
70	70	(iii) the Federal Hospital Insurance 13
71	71	Trust Fund or the Federal Supplementary 14
72	72	Medical Insurance Trust Fund. 15
73	73	(B) Payments under the Medicare program 16
74	74	under title XVIII of the Social Security Act (42 17
75	75	U.S.C. 1395 et seq.). 18
76	76	(2) T
77	77	IER II OBLIGATIONS.—The term ‘‘Tier II 19
78	78	obligations’’ means payments necessary to provide 20
79	79	any of the following: 21
80	80	(A) Any obligation of the Department of 22
81	81	Defense. 23
82	82	(B) Benefits under laws administered by 24
83	83	the Secretary of Veterans Affairs. 25
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86	86	•HR 182 IH
87	87	(3) TIER III OBLIGATIONS.—The term ‘‘Tier III 1
88	88	obligations’’ means any obligation of the United 2
89	89	States which is not a Tier I, Tier II, Tier IV, or 3
90	90	Tier V obligation. 4
91	91	(4) T
92	92	IER IV OBLIGATIONS.—The term ‘‘Tier IV 5
93	93	obligations’’ means any payment which constitutes 6
94	94	any of the following: 7
95	95	(A) Compensation for any Federal em-8
96	96	ployee for official time under section 7131 of 9
97	97	such title 5, United States Code. 10
98	98	(B) Any payment for travel expenses for 11
99	99	any officer or employee of the Executive branch 12
100	100	of Government, including the President and 13
101	101	Vice President, unless such payment is a Tier 14
102	102	I or Tier II obligation. 15
103	103	(C) Compensation of any officer or em-16
104	104	ployee of the Executive branch of Government 17
105	105	(other than an individual in the competitive 18
106	106	service, as defined in section 2102 of title 5, 19
107	107	United States Code), including the President 20
108	108	and Vice President, unless such compensation is 21
109	109	a Tier I or Tier II obligation. 22
110	110	(5) T
111	111	IER V OBLIGATIONS.—The term ‘‘Tier V 23
112	112	obligations’’ means compensation of any Member of 24
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115	115	•HR 182 IH
116	116	Congress (as that term is defined in section 2106 of 1
117	117	title 5, United States Code). 2
118	118	(c) C
119	119	OORDINATIONWITHPUBLICDEBTLIMIT.—Ob-3
120	120	ligations issued under subsection (a)(2) shall not be taken 4
121	121	into account as subject to the limitation imposed under 5
122	122	section 3101(b) of title 31, United States Code. The pre-6
123	123	ceding sentence shall not apply with respect to any obliga-7
124	124	tion after the first date (after the issuance of such obliga-8
125	125	tion) on which any modification or suspension of such lim-9
126	126	itation takes effect. 10
127	127	(d) W
128	128	EEKLYREPORTS.—The written report referred 11
129	129	to in subsection (a)(6) shall include, with respect to the 12
130	130	period covered by such report— 13
131	131	(1) the amount of Tier I obligations paid under 14
132	132	subsection (a)(1) during such period, 15
133	133	(2) the amount of obligations issued under sub-16
134	134	section (a)(2) during such period, and 17
135	135	(3) the amount of Tier II obligations, Tier III 18
136	136	obligations, Tier IV obligations, and Tier V obliga-19
137	137	tions which were paid during such period (stated 20
138	138	separately for each tier) and the aggregate amount 21
139	139	of such obligations which were due and unpaid as of 22
140	140	the close of such period (stated separately for each 23
141	141	tier). 24
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144	144	•HR 182 IH
145	145	(e) NOINFERENCEWITHRESPECT TOEXISTING 1
146	146	A
147	147	UTHORITY TOPRIORITIZEPAYMENTS.—During any pe-2
148	148	riod with respect to which this section does not apply, 3
149	149	nothing in this section shall be interpreted to restrict the 4
150	150	authority of the Secretary to prioritize the payment of cer-5
151	151	tain obligations over other obligations. 6
152	152	Æ
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