I 
113TH CONGRESS 
1ST SESSION H. R. 2830 
To prohibit assistance to foreign countries whose governments hold more 
than $500,000,000,000 in United States Treasury securities, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 25, 2013 
Mr. MCCAUL introduced the following bill; which was referred to the 
Committee on Foreign Affairs 
A BILL 
To prohibit assistance to foreign countries whose govern-
ments hold more than $500,000,000,000 in United 
States Treasury securities, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Prioritizing Debt Re-
duction in U.S. Foreign Assistance Act of 2013’’. 
SEC. 2. DEFINITIONS. 
In this Act: 
VerDate Mar 15 2010 
00:45 Jul 30, 2013
Jkt 029200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H2830.IH
H2830
smartinez on DSK6TPTVN1PROD with BILLS
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Foreign Relations, 
the Committee on Appropriations, and the 
Committee on the Budget of the Senate; and 
(B) the Committee on Foreign Affairs, the 
Committee on Appropriations, and the Com-
mittee on the Budget of the House of Rep-
resentatives. 
(2) MAJOR FOREIGN DEBT HOLDER.—The term 
‘‘major foreign debt holder’’ means any foreign 
country the government of which the Secretary of 
the 
Treasury 
determines 
holds 
more 
than 
$500,000,000,000 in United States Treasury securi-
ties. 
(3) UNITED STATES TREASURY SECURITIES.— 
The term ‘‘United States Treasury securities’’ 
means obligations issued by the United States under 
chapter 31 of title 31, United States Code. 
SEC. 3. FINDINGS. 
Congress makes the following findings: 
(1) The Federal debt of the United States is 
approximately $17 trillion. 
VerDate Mar 15 2010 
00:45 Jul 30, 2013
Jkt 029200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H2830.IH
H2830
smartinez on DSK6TPTVN1PROD with BILLS
(2) Former Joint Chiefs of Staff Chairman, Ad-
miral Mike Mullen, has repeatedly stated that the 
biggest threat to the national security of the United 
States is its debt. 
(3) A growing proportion of the Federal debt of 
the United States is held by foreign governments, to 
some of which the United States provides direct for-
eign assistance. 
(4) According to a Department of the Treasury 
report entitled ‘‘Major Foreign Holders of Treasury 
Securities’’, foreign holdings of United States Treas-
ury securities stood at more than $4 trillion at the 
end of December 2012. 
(5) In August 2011, Standard and Poor’s 
downgraded the United States long-term sovereign 
credit from AAA to AA+ due to America’s excessive 
borrowing and unsustainable spending levels. 
SEC. 4. SENSE OF CONGRESS. 
It is the sense of Congress that— 
(1) the growing Federal debt of the United 
States jeopardizes the national security and eco-
nomic stability of the United States; and 
(2) paying money owed to America’s major for-
eign debt holders is a better use of American tax-
VerDate Mar 15 2010 
03:25 Jul 30, 2013
Jkt 029200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H2830.IH
H2830
smartinez on DSK6TPTVN1PROD with BILLS
payer dollars than providing such debt holders with 
United States foreign assistance. 
SEC. 5. STATEMENT OF POLICY. 
It shall be the policy of the United States to— 
(1) prohibit further United States foreign as-
sistance to major foreign debt holders; and 
(2) aggressively address the unsustainable Fed-
eral debt of the United States. 
SEC. 6. PROHIBITION ON ASSISTANCE TO MAJOR FOREIGN 
DEBT HOLDERS. 
Chapter 1 of part III of the Foreign Assistance Act 
of 1961 is amended by adding at the end the following 
new section: 
‘‘SEC. 620N. PROHIBITION ON ASSISTANCE TO MAJOR FOR-
EIGN DEBT HOLDERS. 
‘‘(a) PROHIBITION.—Except as provided in sub-
section (b), no assistance may be provided directly or indi-
rectly under this Act to any foreign country the govern-
ment of which the Secretary of the Treasury determines 
holds more than $500,000,000,000 in United States 
Treasury securities. 
‘‘(b) EXCEPTIONS.—Subsection (a) shall not apply 
with respect to the following: 
‘‘(1) Assistance to respond to an emergency. 
VerDate Mar 15 2010 
00:45 Jul 30, 2013
Jkt 029200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H2830.IH
H2830
smartinez on DSK6TPTVN1PROD with BILLS
‘‘(2) Assistance to meet humanitarian needs, in-
cluding needs for food, medicine, medical supplies 
and equipment, education, and clothing. 
‘‘(c) WAIVER.—The Secretary of State may waive the 
prohibition under subsection (a) if the Secretary submits 
to the appropriate congressional committees a written cer-
tification that the waiver is in the national security inter-
ests of the United States. 
‘‘(d) DEFINITIONS.—In this section— 
‘‘(1) the term ‘appropriate congressional com-
mittees’ means— 
‘‘(A) the Committee on Foreign Relations, 
the Committee on Appropriations, and the 
Committee on the Budget of the Senate; and 
‘‘(B) the Committee on Foreign Affairs, 
the Committee on Appropriations, and the 
Committee on the Budget of the House of Rep-
resentatives; and 
‘‘(2) the term ‘United States Treasury securi-
ties’ means obligations issued by the United States 
under chapter 31 of title 31, United States Code.’’. 
SEC. 7. REPORT ON ASSISTANCE TO FOREIGN DEBT HOLD-
ERS. 
(a) ANNUAL REPORT.—Not later than September 30 
of each year, the Secretary of State shall submit to the 
VerDate Mar 15 2010 
00:45 Jul 30, 2013
Jkt 029200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H2830.IH
H2830
smartinez on DSK6TPTVN1PROD with BILLS
appropriate congressional committees a report on the pro-
vision of United States foreign assistance to foreign coun-
tries whose governments hold United States Treasury se-
curities. 
(b) CONTENT OF REPORT.—Each report submitted 
under this section shall include the following: 
(1) An analysis of the current and foreseeable 
risks to the long-term national security and eco-
nomic stability of the United States posed by the 
Federal debt of the United States. 
(2) How much foreign assistance per country, 
per year, has been provided to foreign countries 
whose governments hold United States Treasury se-
curities. 
(c) FORM.—Each report submitted under this section 
shall be submitted in unclassified form, but may contain 
a classified annex if necessary. 
(d) PUBLIC AVAILABILITY.—The Secretary of State 
shall make each report required by subsection (a) avail-
able, in its unclassified form, to the public by posting it 
on the Internet website of the Department of State in a 
conspicuous manner and location. 
Æ 
VerDate Mar 15 2010 
00:45 Jul 30, 2013
Jkt 029200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6301
E:\BILLS\H2830.IH
H2830
smartinez on DSK6TPTVN1PROD with BILLS