[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 2181 Placed on Calendar Senate (PCS)]

<DOC>





                                                       Calendar No. 273
114th CONGRESS
  1st Session
                                S. 2181

 To provide guidance and priorities for Federal Government obligations 
              in the event that the debt limit is reached.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 19, 2015

 Mr. Paul introduced the following bill; which was read the first time

                            October 20, 2015

            Read the second time and placed on the calendar

_______________________________________________________________________

                                 A BILL


 
 To provide guidance and priorities for Federal Government obligations 
              in the event that the debt limit 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 ``Default Prevention Act''.

SEC. 2. PRIORITIZING OBLIGATIONS.

    In the event that the debt of the Government of the United States 
reaches the statutory limit under section 3101 of title 31, United 
States Code, the following expenditures shall be granted priority over 
all other obligations incurred by the Government of the United States:
            (1) The authority of the Department of 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) The full payment of compensation, allowances, and 
        benefits for members of the Armed Forces on active duty.
            (3) 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.
            (4) The authority of the Secretary of Health and Human 
        Services to make payments for items and services furnished to 
        beneficiaries under the Medicare program under title XVIII of 
        the Social Security Act and related provisions.
                                                       Calendar No. 273

114th CONGRESS

  1st Session

                                S. 2181

_______________________________________________________________________

                                 A BILL

 To provide guidance and priorities for Federal Government obligations 
              in the event that the debt limit is reached.

_______________________________________________________________________

                            October 20, 2015

            Read the second time and placed on the calendar