H.R.2496 - Payment Reliability for our Obligations to Military and Investors to Secure Essential Stability Act112th Congress (2011-2012)
|Sponsor:||Rep. King, Steve [R-IA-5] (Introduced 07/12/2011)|
|Committees:||House - Ways and Means; Armed Services; Transportation and Infrastructure|
|Latest Action:||House - 08/15/2011 Referred to the Subcommittee on Military Personnel. (All Actions)|
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Summary: H.R.2496 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (07/12/2011)
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.