,,ii ,calendar ,no4 #f #aahth ,,congress
  #ast ,session  ,s4 #hb  ,,in ,,the    
,,senate ,,of ,,the ,,united ,,states   
,january #be1 #bjbc,mr4 ,scott of       
,florida 7for himself1 ,mr4 ,johnson1   
,ms4 ,lummis1 ,mr4 ,lee1 ,mr4 ,braun1   
,mr4 ,cramer1 ,mrs4 ,britt1 ,mr4 ,risch1
 ,mr4 ,budd1 and ,mrs4 ,blackburn7      
introduced the following bill2 which was
 read the first time  ,january #bf1     
#bjbc,read the second time and placed on
 the calendar  ,a ,,bill  ,to protect   
social security benefits and military   
pay and require that the ,united ,states
 ,government to prioritize all          
obligations on the debt held by the     
public in the event that the debt limit 
is reached4  #a4 ,short title ,this ,act
 may be cited as the ,full ,faith and   
,credit ,act4  #b4 ,prioritize          
obligations on the debt held by the     
public1 social security benefits1       
medicare1 veterans1 and military pay ,if
 the debt of the ,united ,states        
,government reaches the statutory limit 

under section #caja of title #ca1       
,united ,states ,code1 the following    
obligations shall take equal priority   
over all other obligations incurred by  
the ,united ,states ,government3 7#a7   
,the authority of the ,department of the
 ,treasury provided under 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'1 and disability     
insurance benefits under title ,,ii of  
the ,social ,security ,act 7#db         
,u4,s4,c4 #dja et seq474  7#c7 ,the     
payment of pay and allowances for       
members of the ,armed ,forces on active 
duty and members of the ,united ,states 
,coast ,guard4  7#d7 ,the payment of    
compensation and pensions1 and payments 
for medical services1 provided by the   
,department of ,veterans ,affairs4  7#e7
 ,the ,medicare programs under parts ,a1
 ,b1 ,c1 and ,d of title ,,xviii of the 

,social ,security ,act 7#db ,u4,s4,c4   
#acie;c et seq474  #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 pay the priority       
obligations specified under section #b  
over an upcoming #b-week period during a
 period during which the debt of the    
,united ,states ,government has reached 
the statutory limit under section #caja 
of title #ca1 ,united ,states ,code--   
7#a7 the ,secretary1 in coordination    
with the ,director of the ,office of    
,management and ,budget1 shall notify   
,congress of the amount of the expected 
revenue shortfall from the revenue      
required to pay in full the priority    
obligations specified under section #b  
for such #b-week period2 and  7#b7 the  
amount of the limit on debt held by the 
public under section #caja of title #ca1
 ,united ,states ,code1 shall be        

increased by the amount of the expected 
revenue shortfall4  7b7 ,excess revenue 
,if incoming revenue exceeds the amount 
projected under subsection 7a71 any     
amount in excess shall be held in       
reserve and applied to the following    
#b-week period4  ,january #bf1          
#bjbc,read the second time and placed on
 the calendar