HR 187 · 118th Congress 2023–2025, ended

Default Prevention Act

Introduced Jan 9, 2023 Originated House Sponsor Tom McClintock R-CA

Fact sheet

Latest action · Jan 9, 2024 Placed on the Union Calendar, Calendar No. 279.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedJan 9, 2023
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

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.

Cosponsors 4

Members who signed on, in the order they did. Signatures ran from Jan 9, 2023 to Mar 10, 2023, with 3 there on the day it was introduced.

SeatCosponsorSigned on
R-WIGlenn GrothmanOriginalJan 9, 2023
R-SCJeff DuncanOriginalJan 9, 2023
R-FLMatt GaetzOriginalJan 9, 2023
R-AZDebbie LeskoMar 10, 2023

Actions 6

Everything that happened, newest first.

  1. Jan 9, 2024Placed on the Union Calendar, Calendar No. 279.
  2. Jan 9, 2024Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-340.
  3. Mar 9, 2023Committee Consideration and Mark-up Session Held.
  4. Mar 9, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 17.
  5. Jan 9, 2023Introduced in House
  6. Jan 9, 2023Referred to the House Committee on Ways and Means.

Subjects

Assigned by the Library of Congress. Policy area: Economics and Public Finance.

Text 2

Each version as it was printed, newest first.

  1. Jan 9, 2024Reported in House
  2. Jan 9, 2023Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.