,,ii  #aacth ,,congress  #ast ,session  
,s4 #df  ,,in ,,the ,,senate ,,of ,,the 
,,united ,,states  ,january #bb         
7legislative day1 ,january #c71 #bjac   
,mr4 ,toomey 7for himself1 ,mr4 ,vitter1
 ,mr4 ,lee1 ,mr4 ,rubio1 ,mr4 ,enzi1    
,mr4 ,barrasso1 ,mr4 ,chambliss1 ,mr4   
,inhofe1 ,mr4 ,blunt1 ,mr4 ,johnson of  
,wisconsin1 ,mr4 ,heller1 ,mr4 ,flake1  
,mr4 ,risch1 ,ms4 ,ayotte1 ,mr4         
,isakson1 ,mr4 ,grassley1 and ,mr4      
,cruz7 introduced the following bill2   
which was read twice and referred to the
 ,committee on ,finance  ,a ,,bill  ,to 
protect ,social ,security benefits and  
military pay and require that the       
,united ,states ,government prioritize  
all obligations on the debt held by the 
public in the event that the debt limit 
is reached4  #a4 ,short title ,this     
title may be cited as the ,ensuring the 
,full ,faith and ,credit of the ,united 
,states and ,protecting ,america's      
,soldiers and ,seniors ,act4  #b4       
,prioritize obligations on the debt held

 by the public1 ,social ,security       
benefits1 and military pay ,in the event
 that the debt of the ,united ,states   
,government reaches the statutory limit 
as defined in section #caja of title    
#ca1 ,united ,states ,code1 the         
following shall take equal priority over
 all other obligations incurred by the  
,government of the ,united ,states3     
7#a7 ,the authority of the ,department  
of the ,treasury contained in section   
#cabc of title #ca1 ,united ,states     
,code1 to pay with legal tender the     
principal and interest on debt held by  
the public4  7#b7 ,the authority of the 
,commissioner of ,social ,security to   
pay monthly old-age1 survivors' and     
disability insurance benefits under     
title ,,ii of the ,social ,security     
,act4  7#c7 ,the payment of pay and     
allowances for members of the ,armed    
,forces on active duty4  #c4 ,limited   
debt limit authority  7a7 ,in general   
,if the ,secretary of the ,treasury     
determines1 after consultation with the 

,director of the ,office of ,management 
and ,budget1 that incoming revenue will 
not be sufficient to finance the        
priorities listed in section #b over the
 following #b weeks1 the ,secretary1 in 
coordination with the ,director of the  
,office of ,management and ,budget1     
shall--  7#a7 notify ,congress of the   
expected revenue shortfall2 and  7#b7   
raise the debt limit by the amount      
necessary to cover the difference       
between incoming revenue and the revenue
 needed to finance the priorities listed
 in section #b on a #b-week basis4  7b7 
,limit ,the debt limit increase provided
 by subsection 7a77#b7 may not exceed   
the difference between expected outlays 
for the listed priorities and expected  
revenue4  7c7 ,excess revenue ,if       
incoming revenue exceeds the amount     
projected by the ,secretary of the      
,treasury1 in consultation with the     
,director of the ,office of ,management 
and ,budget1 needed to finance the      
priorities listed in section #b over the

 #b-week period1 any amount in excess   
shall be held in reserve and applied to 
the following #b-week period4