Keep Our Promises Act

Subjects: Health

Summary:  <p><b>Keep Our Promises Act</b></p> <p>This bill authorizes Medicare and Social Security payments to be made in full even if the federal debt limit is reached. Such payments do not count against the debt limit until after the debt limit has been raised by authorizing legislation. </p>

<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 213 Introduced in Senate (IS)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                 S. 213

To authorize the Secretary of the Treasury to issue obligations to make 
  Medicare and Social Security payments, despite the debt limit being 
                                reached.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            February 1, 2023

  Mr. Hawley introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To authorize the Secretary of the Treasury to issue obligations to make 
  Medicare and Social Security payments, despite the debt limit being 
                                reached.

    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 ``Keep Our Promises Act''.

SEC. 2. SOCIAL SECURITY AND MEDICARE PROGRAMS AND THE DEBT LIMIT.

    (a) Finding.--Congress finds that Social Security and Medicare 
beneficiaries should be assured that their benefits will be paid in 
full and on time.
    (b) Exemption.--Section 3101 of title 31, United States Code, is 
amended--
            (1) in subsection (b), by striking ``The face'' and 
        inserting ``Subject to subsection (d), the face''; and
            (2) by adding at the end the following:
    ``(d)(1) If the face value of the amount of obligations described 
in subsection (b) reaches the limit on such obligations under 
subsection (b), to the extent necessary to make timely payment of the 
full amount of benefits authorized under the Medicare program 
established under title XVIII of the Social Security Act (42 U.S.C. 
1395 et seq.) or the old-age, survivors, and disability insurance 
benefits program established under title II of the Social Security Act 
(42 U.S.C. 401 et seq.) the Secretary of the Treasury may issue 
obligations under this chapter.
    ``(2) With respect to each instance in which the Secretary of the 
Treasury begins issuing obligations in accordance with paragraph (1), 
the face value of such obligations issued during such instance shall 
not be taken into account in determining the face value of obligations 
for purposes of subsection (b) during the period--
            ``(A) beginning on the date on which the Secretary began 
        issuing obligations in accordance with paragraph (1) during 
        such instance; and
            ``(B) ending on the day after the date of enactment of the 
        first law enacted after the date described in subparagraph (A) 
        increasing the limit under subsection (b).''.
                                 &lt;all&gt;
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