HR 187 · 118th Congress · Economics and Public Finance
Default Prevention Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Placed on the Union Calendar, Calendar No. 279.(2024-01-09)
Plain Language Summary
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Default Prevention Act This bill requires the Department of the Treasury to continue borrowing to pay the principal and interest on obligations held by the public or the Social Security trust funds if the federal debt limit is reached. The bill also (1) exempts any obligations issued under this bill from the debt limit if the obligations would otherwise cause the limit to be exceeded, and (2) prohibits the obligations from being used to compensate Members of Congress.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 187, Default Prevention Act
Mar 31, 2023As ordered reported by the House Committee on Ways and Means on March 9, 2023
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (4)
4 Republicans