,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #ahb  ,,in ,,the ,,house ,,of   
,,representatives  ,january #c1         
#bjbe,mr4 ,mc,clintock introduced the   
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to ensure the payment of       
interest and principal of the debt of   
the ,united ,states4  #a4 ,short title  
,this ,act may be cited as the ,default 
,prevention ,act4  #b4 ,payment of      
obligations  7a7 ,in general ,at any    
time that the debt of the ,united       
,states ,government subject to          
limitation under section #caja of title 
#ca1 ,united ,states ,code1 has reached 
the limitation imposed under such       
section1 the ,secretary of the ,treasury
 7hereafter in this section referred to 
as the ,secretary7 shall-- 7#a7 pay     
,tier ,i obligations as such obligations
 become due1  7#b7 issue such           
obligations under chapter #ca of title  
#ca1 ,united ,states ,code1 as-- 7,a7   
are necessary to make the payments      

described in paragraph 7#a71 or  7,b7   
are to be held exclusively by a trust   
fund referred to in subsection          
7b77#a77;,a71  7#c7 pay ,tier ,,iii     
obligations only to the extent that the 
,secretary can still pay all ,tier ,,ii 
obligations as such obligations become  
due1  7#d7 pay ,tier ,,iv obligations   
only to the extent that the ,secretary  
can still pay all ,tier ,,ii and ,tier  
,,iii obligations as such obligations   
become due1  7#e7 pay ,tier ,v          
obligations only to the extent that the 
,secretary can still pay all ,tier ,,ii1
 ,tier ,,iii1 and ,tier ,,iv obligations
 as such obligations become due1 and    
7#f7 submit to the ,committee on ,ways  
and ,means of the ,house of             
,representatives and the ,committee on  
,finance of the ,senate a weekly written
 report containing the information      
described in subsection 7d74  7b7       
,definitions ,for purposes of this      
section-- 7#a7 ,tier ,i obligations ,the
 term ,tier ,i obligations means        

payments necessary to provide any of the
 following3 7,a7 ,payment with legal    
tender pursuant to the authority        
provided under section #cabc of title   
#ca1 ,united ,states ,code1 of principal
 and interest on debt held by-- 7i7 the 
public1  7ii7 the ,federal ,old-,age and
 ,survivors ,insurance ,trust ,fund or  
the ,federal ,disability ,insurance     
,trust ,fund1 or  7iii7 the ,federal    
,hospital ,insurance ,trust ,fund or the
 ,federal ,supplementary ,medical       
,insurance ,trust ,fund4  7,b7 ,payments
 under the ,medicare program under title
 ,,xviii of the ,social ,security ,act  
7#db ,u4,s4,c4 #acie et seq474  7#b7    
,tier ,,ii obligations ,the term ,tier  
,,ii obligations means payments         
necessary to provide any of the         
following3 7,a7 ,any obligation of the  
,department of ,defense4  7,b7 ,benefits
 under laws administered by the         
,secretary of ,veterans ,affairs4  7#c7 
,tier ,,iii obligations ,the term ,tier 
,,iii obligations means any obligation  

of the ,united ,states which is not a   
,tier ,i1 ,tier ,,ii1 ,tier ,,iv1 or    
,tier ,v obligation4  7#d7 ,tier ,,iv   
obligations ,the term ,tier ,,iv        
obligations means any payment which     
constitutes any of the following3 7,a7  
,compensation for any ,federal employee 
for official time under section #gaca of
 such title #e1 ,united ,states ,code4  
7,b7 ,any payment for travel expenses   
for any officer or employee of the      
,executive branch of ,government1       
including the ,president and ,vice      
,president1 unless such payment is a    
,tier ,i or ,tier ,,ii obligation4  7,c7
 ,compensation of any officer or        
employee of the ,executive branch of    
,government 7other than an individual in
 the competitive service1 as defined in 
section #bajb of title #e1 ,united      
,states ,code71 including the ,president
 and ,vice ,president1 unless such      
compensation is a ,tier ,i or ,tier ,,ii
 obligation4  7#e7 ,tier ,v obligations 
,the term ,tier ,v obligations means    

compensation of any ,member of ,congress
 7as that term is defined in section    
#bajf of title #e1 ,united ,states      
,code74  7c7 ,coordination with public  
debt limit ,obligations issued under    
subsection 7a77#b7 shall not be taken   
into account as subject to the          
limitation imposed under section        
#caja7;b7 of title #ca1 ,united ,states 
,code4 ,the preceding sentence shall not
 apply with respect to any obligation   
after the first date 7after the issuance
 of such obligation7 on which any       
modification or suspension of such      
limitation takes effect4  7d7 ,weekly   
reports ,the written report referred to 
in subsection 7a77#f7 shall include1    
with respect to the period covered by   
such report-- 7#a7 the amount of ,tier  
,i obligations paid under subsection    
7a77#a7 during such period1  7#b7 the   
amount of obligations issued under      
subsection 7a77#b7 during such period1  
and  7#c7 the amount of ,tier ,,ii      
obligations1 ,tier ,,iii obligations1   

,tier ,,iv obligations1 and ,tier ,v    
obligations which were paid during such 
period 7stated separately for each tier7
 and the aggregate amount of such       
obligations which were due and unpaid as
 of the close of such period 7stated    
separately for each tier74  7e7 ,no     
inference with respect to existing      
authority to prioritize payments ,during
 any period with respect to which this  
section does not apply1 nothing in this 
section shall be interpreted to restrict
 the authority of the ,secretary to     
prioritize the payment of certain       
obligations over other obligations4