IB 
Union Calendar No. 279 
118TH CONGRESS 
2D SESSION 
H. R. 187 
[Report No. 118–340] 
To ensure the payment of interest and principal of the debt of the United 
States. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 9, 2023 
Mr. MCCLINTOCK (for himself, Mr. DUNCAN, Mr. GROTHMAN, and Mr. 
GAETZ) introduced the following bill; which was referred to the Com-
mittee on Ways and Means 
JANUARY 9, 2024 
Additional sponsor: Mrs. LESKO 
JANUARY 9, 2024 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on January 9, 2023] 
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A BILL 
To ensure the payment of interest and principal of the debt 
of the United States. 
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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 ‘‘Default Prevention Act’’. 
SEC. 2. PAYMENT OF OBLIGATIONS. 
(a) IN GENERAL.—At any time that the debt of the 
United States Government subject to limitation under sec-
tion 3101 of title 31, United States Code, has reached the 
limitation imposed under such section, the Secretary of the 
Treasury (hereafter in this section referred to as ‘‘the Sec-
retary’’) shall— 
(1) pay Tier I obligations as such obligations be-
come due, 
(2) issue such obligations under chapter 31 of 
title 31, United States Code, as— 
(A) are necessary to make the payments de-
scribed in paragraph (1), or 
(B) are to be held exclusively by a trust 
fund referred to in subsection (b)(1)(A), 
(3) pay Tier III obligations only to the extent 
that the Secretary can still pay all Tier II obligations 
as such obligations become due, 
(4) pay Tier IV obligations only to the extent 
that the Secretary can still pay all Tier II and Tier 
III obligations as such obligations become due, 
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(5) pay Tier V obligations only to the extent that 
the Secretary can still pay all Tier II, Tier III, and 
Tier IV obligations as such obligations become due, 
and 
(6) submit to the Committee on Ways and Means 
of the House of Representatives and the Committee on 
Finance of the Senate a weekly written report con-
taining the information described in subsection (d). 
(b) DEFINITIONS.—For purposes of this section— 
(1) TIER I OBLIGATIONS.—The term ‘‘Tier I ob-
ligations’’ means payments necessary to provide any 
of the following: 
(A) Payment with legal tender pursuant to 
the authority provided under section 3123 of title 
31, United States Code, of principal and interest 
on debt held by— 
(i) the public, 
(ii) the Federal Old-Age and Survivors 
Insurance Trust Fund or the Federal Dis-
ability Insurance Trust Fund, or 
(iii) the Federal Hospital Insurance 
Trust Fund or the Federal Supplementary 
Medical Insurance Trust Fund. 
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(B) Payments under the Medicare program 
under title XVIII of the Social Security Act (42 
U.S.C. 1395 et seq.). 
(2) TIER II OBLIGATIONS.—The term ‘‘Tier II 
obligations’’ means payments necessary to provide 
any of the following: 
(A) Any obligation of the Department of 
Defense. 
(B) Benefits under laws administered by the 
Secretary of Veterans Affairs. 
(3) TIER III OBLIGATIONS.—The term ‘‘Tier III 
obligations’’ means any obligation of the United 
States which is not a Tier I, Tier II, Tier IV, or Tier 
V obligation. 
(4) TIER IV OBLIGATIONS.—The term ‘‘Tier IV 
obligations’’ means any payment which constitutes 
any of the following: 
(A) Compensation for any Federal employee 
for official time under section 7131 of such title 
5, United States Code. 
(B) Any payment for travel expenses for 
any officer or employee of the Executive branch 
of Government, including the President and Vice 
President, unless such payment is a Tier I or 
Tier II obligation. 
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(C) Compensation of any officer or em-
ployee of the Executive branch of Government 
(other than an individual in the competitive 
service, as defined in section 2102 of title 5, 
United States Code), including the President and 
Vice President, unless such compensation is a 
Tier I or Tier II obligation. 
(5) TIER V OBLIGATIONS.—The term ‘‘Tier V ob-
ligations’’ means compensation of any Member of 
Congress (as that term is defined in section 2106 of 
title 5, United States Code). 
(c) COORDINATION WITH PUBLIC DEBT LIMIT.—Obli-
gations issued under subsection (a)(2) shall not be taken 
into account as subject to the limitation imposed under sec-
tion 3101(b) of title 31, United States Code. The preceding 
sentence shall not apply with respect to any obligation after 
the first date (after the issuance of such obligation) on 
which any modification or suspension of such limitation 
takes effect. 
(d) WEEKLY REPORTS.—The written report referred 
to in subsection (a)(6) shall include, with respect to the pe-
riod covered by such report— 
(1) the amount of Tier I obligations paid under 
subsection (a)(1) during such period, 
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(2) the amount of obligations issued under sub-
section (a)(2) during such period, and 
(3) the amount of Tier II obligations, Tier III 
obligations, Tier IV obligations, and Tier V obliga-
tions which were paid during such period (stated sep-
arately for each tier) and the aggregate amount of 
such obligations which were due and unpaid as of the 
close of such period (stated separately for each tier). 
(e) NO INFERENCE WITH RESPECT TO EXISTING AU-
THORITY TO PRIORITIZE PAYMENTS.—During any period 
with respect to which this section does not apply, nothing 
in this section shall be interpreted to restrict the authority 
of the Secretary to prioritize the payment of certain obliga-
tions over other obligations. 
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Union Calendar No. 279 
118TH CONGRESS 
2D SESSION 
H. R. 187 
[Report No. 118–340] 
A BILL 
To ensure the payment of interest and principal of 
the debt of the United States. 
JANUARY 9, 2023 
Referred to the Committee on Ways and Means 
JANUARY 9, 2024 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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