H.R.2496 - Payment Reliability for our Obligations to Military and Investors to Secure Essential Stability Act

To specify that in the event that the debt ceiling is reached, the United States shall prioritize the payment of pay and allowances to members of the Armed Forces, including reserve components thereof, and the payment of obligations on the public debt, and to appropriate such funds as may be necessary to ensure that members of the Armed Forces, including reserve components thereof, continue to receive pay and allowances for active service performed when a funding gap occurs. view all titles (3)

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  • Short: Payment Reliability for our Obligations to Military and Investors to Secure Essential Stability Act as introduced.
  • Short: PROMISES Act as introduced.
  • Official: To specify that in the event that the debt ceiling is reached, the United States shall prioritize the payment of pay and allowances to members of the Armed Forces, including reserve components thereof, and the payment of obligations on the public debt, and to appropriate such funds as may be necessary to ensure that members of the Armed Forces, including reserve components thereof, continue to receive pay and allowances for active service performed when a funding gap occurs. as introduced.

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Introduced
 
House
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Senate
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President
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07/11/11
 
 
 
 
 
 
 

Official Bill Text Comment on about 3 Pages

Sponsor

Representative

Steve King

R-IA

View Co-Sponsors (6)

Official Summary

7/12/2011--Introduced.Payment Reliability for our Obligations to Military and Investors to Secure Essential Stability Act or the PROMISES Act - Sets forth the priority of the payment of obligations incurred by the U.S. government in the event that U.S. debt reaches the statutory limit. Dir
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Official Summary

7/12/2011--Introduced.Payment Reliability for our Obligations to Military and Investors to Secure Essential Stability Act or the PROMISES Act - Sets forth the priority of the payment of obligations incurred by the U.S. government in the event that U.S. debt reaches the statutory limit. Directs the Secretary of the Treasury, during any funding gap impacting the Armed Forces, to make emergency appropriations to continue to provide pay and allowances (without interruption) to members of the Army, Navy, Air Force, Marine Corps, and Coast Guard, including the reserve components thereof, who perform active service.

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