[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2605 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2605

   To specify that certain obligations of the United States shall be 
       prioritized in the event that the debt ceiling is reached.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 21, 2011

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

_______________________________________________________________________

                                 A BILL


 
   To specify that certain obligations of the United States shall be 
       prioritized in the event that 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 ``Protect Spending Priorities Act''.

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:
            (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) Amounts necessary for the Commissioner of Social 
        Security to pay monthly old-age, survivors', and disability 
        insurance benefits under title II of the Social Security Act.
            (4) Amounts necessary for the Secretary of the Veterans 
        Affairs to pay compensation, as such term is defined under 
        section 101(13) of title 38, United States Code.
            (5) Such amounts as the President certifies to the Congress 
        are necessary to carry out vital national security priorities.
            (6) Amounts necessary to make payments under the Medicare 
        program under title XVIII of the Social Security Act.
            (7) Such amounts as the President certifies to the Congress 
        are necessary to carry out Government functions necessary for 
        protecting public health and public safety.
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