[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2402 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2402

    To specify the priority of the obligations of the United States 
               Government if the debt ceiling is reached.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 24, 2011

 Mr. Webster introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
    To specify the priority of the obligations of the United States 
               Government if the debt ceiling is reached.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Prioritize Spending Act of 2011''.

SEC. 2. PRIORITY OF PAYMENTS IF THE DEBT CEILING IS REACHED.

    In the event that the debt of the United States Government, as 
defined in section 3101 of title 31, United States Code, reaches the 
statutory limit, amounts necessary for obligations incurred by the 
Government of the United States shall be made available to the 
following obligations before all other obligations and shall be made 
available as prioritized in the following order (with items listed in 
descending order of prioritization):
            (1) Amounts necessary to carry out the authority of the 
        Department of the Treasury provided in section 3123 of title 
        31, United States Code, to pay with legal tender the principal 
        and interest on debt held by the public.
            (2) Such amounts as the Secretary of Defense (and the 
        Secretary of Homeland Security in the case of the Coast Guard) 
        determines to be necessary to continue to provide pay and 
        allowances (without interruption) to members of the Army, Navy, 
        Air Force, Marine Corps, and Coast Guard, including reserve 
        components thereof, who perform active service.
            (3) Such amounts as the President certifies to the Congress 
        are necessary to carry out vital national security priorities.
            (4) Amounts necessary to carry out 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.
            (5) Amounts necessary to make payments under the Medicare 
        program under title XVIII of the Social Security Act.
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