/  H.R. 807 - Full Faith and Credit Act

H.R. 807 - Full Faith and Credit Act

Summary

H.R. 807 authorizes the Secretary of the Treasury, in the event of the federal government reaching the statutory debt limit, to issue new debt for the sole purpose of making payments on the principal and interest earned on the debt, and payments from the Social Security Trust Fund only.

Type of Rule

Structured rule (making only particular amendments in order) for consideration of H.R. 807.  Reported by a vote of 5 yeas to 2 nays.

Amendments

H.R. 807

Republican

Democratic

Bipartisan

Submitted

7

9

0

Withdrawn

2

0

0

Made in Order

1

0

0

 

Other Elements of the Rule

Debate Time: Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Ways and Means.

Provides 10 minutes of debate on the amendment from Mr. Camp (MI).

 Provides one motion to recommit with or without instructions. 

Floor Managers: Sessions/Slaughter

Floor Action Expected

The rule and the bill are expected to be on the floor: May 8 and 9, 2013.