[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2534 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2534

 To provide that the public debt limit shall not affect timely payment 
    of certain Social Security, public debt, defense, veterans, and 
                         Medicare obligations.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 14, 2011

 Mr. Gowdy (for himself and Mr. Southerland) introduced the following 
      bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To provide that the public debt limit shall not affect timely payment 
    of certain Social Security, public debt, defense, veterans, and 
                         Medicare obligations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Ensuring America's Promises Act of 
2011''.

SEC. 2. TIMELY PAYMENT IN FULL OF CERTAIN OBLIGATIONS NOTWITHSTANDING 
              THE PUBLIC DEBT LIMIT.

    (a) In General.--Nothing in section 3101 of title 31, United States 
Code, shall be construed to have the effect of--
            (1) precluding or otherwise limiting timely redemption of 
        obligations owed to the Federal Old-Age and Survivors Insurance 
        Trust Fund or the Federal Disability Insurance Trust Fund to 
        the extent necessary to provide for timely payment in full of 
        benefits payable from such Trust Funds;
            (2) otherwise precluding or limiting timely payment in full 
        of benefits payable from such Trust Funds;
            (3) otherwise precluding or limiting timely payment in full 
        of amounts necessary to carry out the authority of the 
        Department of the Treasury provided in section 3123 of title 
        31, United States Code, to pay with legal tender the principal 
        and interest on debt held by the public;
            (4) otherwise precluding or limiting timely payment in full 
        of amounts the Secretary of Defense (and the Secretary of 
        Homeland Security in the case of the Coast Guard) determines to 
        be necessary to continue to provide pay and allowances (without 
        interruption) to members of the Army, Navy, Air Force, Marine 
        Corps, and Coast Guard, including reserve components thereof, 
        who perform active service;
            (5) otherwise precluding or limiting timely payment in full 
        of amounts the Secretary of Veterans Affairs determines 
        necessary to provide the benefits and programs under title 38, 
        United States Code, to veterans and other individuals; or
            (6) otherwise precluding or limiting timely payment in full 
        of obligations owned under the Medicare program under title 
        XVIII of the Social Security Act.
    (b) Operation of the Public Debt Limit in Other Respects.--The 
limitation on public debt under section 3101 of title 31, United States 
Code, shall apply with respect to matters other than matters affected 
by subsection (a) as if subsection (a) had not been enacted.
    (c) Termination.--Subsections (a) and (b) shall cease to have 
effect after December 31, 2012.
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