S. 1420 (112th): Ensuring the Full Faith and Credit of the United States and Protecting America’s Soldiers and Seniors Act

Introduced:
Jul 26, 2011 (112th Congress, 2011–2013)
Sponsor:
Sen. Patrick “Pat” Toomey [R-PA]
Status:
Died (Reported by Committee)
See Instead:
This bill was re-introduced as S. 46 on Jan 22, 2013. See S. 46 for current action on this subject.

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on July 27, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 26, 2011
Reported by Committee Jul 27, 2011
Cosponsors
33 cosponsors (33R) (show)
Full Title

A bill to require that the United States Government prioritize all obligations on the debt held by the public, Social Security benefits, and military pay in the event that the debt limit is reached, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jul 27, 2011.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

7/26/2011--Introduced.
Ensuring the Full Faith and Credit of the United States and Protecting America's Soldiers and Seniors Act - Requires the following to take equal priority over all other federally incurred obligations in the event that the public debt reaches the statutory limit:
(1) the authority of the Department of the Treasury to pay with legal tender the principal and interest on debt held by the public;
(2) 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; and
(3) the payment of pay and allowances for members of the Armed Forces on active duty.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

Slip Laws

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United States Code

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