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H.R. 165 (114th): Transparency on Prioritizing Spending Act

The text of the bill below is as of Jan 6, 2015 (Introduced).


I

114th CONGRESS

1st Session

H. R. 165

IN THE HOUSE OF REPRESENTATIVES

January 6, 2015

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

A BILL

To provide that the President shall submit to Congress a report detailing the priority of Federal spending if the statutory debt limit is reached, and for other purposes.

1.

Short title

This Act may be cited as the Transparency on Prioritizing Spending Act.

2.

Priority of spending if the debt ceiling is reached

Not later than 30 days after the date of the enactment of this Act, the President shall submit to Congress a report listing, in descending order of prioritization, which obligations of the United States Government will be paid 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.