Summary: S.259 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for S.259. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (02/02/2011)

Declares that, in the event the debt of the federal government reaches the statutory limit, the authority of the Department of the Treasury to pay with legal tender the principal and interest on debt held by the public, and the authority of the Commissioner of Social Security to pay monthly old-age, survivors', and disability insurance benefits under title II of the Social Security Act, shall take priority over all other obligations incurred by the government.