PoliticalRepoPoliticalRepo

United States · Bill · HR

H.R. 807 (113th)

Full Faith and Credit Act

referredUnited States· United States Congress· EN

Introduced

25 February 2013

Last action

—

Status

Received in the Senate and Read twice and referred to the Committee on Finance.

Sponsors

—

Subjects

Discovery layer

Source updated

7 April 2025

Official sourceDownload fileView documentsShare

Summary

Full Faith and Credit Act - Finds that the Secretary of the Treasury shall take all necessary actions to ensure all U.S. obligations with regard to debt held by the public (public debt) are fully discharged when due. Declares that such actions may include the forgoing of obligations not related to public debt for a period of time the Secretary deems necessary. Requires the authority of the Department of the Treasury to pay with legal tender the principal and interest on public debt to take priority over all other obligations incurred by the U.S. government in the event that the federal debt reaches the statutory limit. Prescribes a special rule for insufficiency of funds to make public debt payments. Requires the Secretary, if expecting there will be insufficient funds available to dispose of public debt obligations on the next calendar day on which they are due, to extend the maturities of any other obligations and refuse to issue warrants (for any money drawn on the Treasury) to the extent necessary to provide funds the Secretary deems prudent to dispose of public debt obligations within the next 30 days. Requires the Secretary, if receipts exceed those required to meet such public debt obligations, to prioritize the disposal of all other obligations either acquired for the government or delivered by an executive agency, and the issuance of warrants, in the order the Secretary considers advisable and in the public interest.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

11 official files

Referred in Senate (text)

View fileDownload file

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.