PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in House · Oct 16, 2013
Pay America First Act - Makes this Act effective if the federal government defaults on its legal obligations for the first time in its history, as evidenced by one or more of certain actions taken by the Secretary of the Treasury.
Counts among such actions withholding from making payments of debt obligations to foreign bond holders, including those in China, Iran, and the Cayman Islands, before:
making a payment of a debt obligation to the Social Security and Medicare trust funds or redeeming a debt obligation held by those trust funds;
Showing the opening paragraphs of the official summary.
redeeming a debt obligation held by a trust fund providing veterans benefits, including the Veterans Special Life Insurance Fund, the Veterans Reopened Insurance Fund, the Armed Forces Retirement Home Fund, and the Court of Veteran Appeals Retirement Fund;
redeeming a debt obligation held by an intragovernmental fund to assist Americans during a natural disaster, including reserves for the National Flood Insurance Program and other disaster relief funds appropriated to the President; or
making a payment of debt obligations to the Department of Defense (DOD), including civilian and uniformed personnel (Army, Navy, Marines, Air Force), military active pay and military retirement benefits, and military benefits to their families.
Requires the Secretary, after exercising such authority, to report each week to Congress on the payments issued and amount of revenues incoming and remaining reserves for upcoming payments issued.
People & committees
Rep. Gallego, Pete P. [D-TX-23] · D–TX
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.
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Analyze H.R.3296 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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