S. 2181 · 114th Congress
Default Prevention Act
- Stage
- Introduced
- Sponsor
- Rand Paul
- Introduced
- 2015-10-19
- Latest action
- 2015-10-20 · Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 273.
Summary
Default Prevention Act
This bill requires the following obligations to be granted priority over all other U.S. obligations if the public debt reaches the statutory limit:
principal and interest on debt held by the public; compensations, allowances, and benefits for members of the Armed Forces on active duty; Social Security benefits; and Medicare benefits.