PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 36 · Passed House amended · May 9, 2013
Full Faith and Credit Act - Requires the Secretary of the Treasury, in addition to any other authority provided by law, to issue obligations to pay with legal tender, and solely for the purpose of paying, the principal and interest on U.S. obligations held by the public, or held by the Old-Age and Survivors Insurance Trust Fund and Disability Insurance Trust Fund, in the event that the federal debt reaches the statutory limit after enactment of this Act.
Prohibits: (1) the use of the issued obligations to pay compensation for Members of Congress, and (2) these obligations from being taken into account in applying the current $16.394 trillion public debt limit to the extent that they would otherwise cause such limit to be exceeded.
Requires the Secretary, if such authority is exercised after enactment of this Act, to report to specified congressional committees each week the authority is in use and provide an accounting of: (1) the principal on mature obligations and interest due or accrued by the United States, and (2) any obligations issued pursuant to this Act.
People & committees
Rep. McClintock, Tom [R-CA-4] · R–CA
Legislative record
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Received in the Senate and Read twice and referred to the Committee on Finance.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by the Yeas and Nays: 221 - 207 (Roll no. 142).
House roll call 142 · Individual votesPassed/agreed to in House: On passage Passed by the Yeas and Nays: 221 - 207 (Roll no. 142).
House roll call 142 · Individual votesOn motion to recommit with instructions Failed by recorded vote: 200 - 227 (Roll no. 141).
House roll call 141 · Individual votesThe previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H2552)
DEBATE - The House proceeded with 10 minutes of debate on the Maffei motion to recommit with instructions pending reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment adding a new section pertaining to the prohibition on default that pays China first instead of protecting America's seniors, veterans, and those harmed by natural disasters. Subsequently, the reservation was removed.
Mr. Maffei moved to recommit with instructions to Ways and Means. (consideration: CR H2551-2553; text: CR H2551)
DEBATE - Pursuant to the provisions of H.Res. 202, the House proceeded with 10 minutes of debate on the Camp amendment.
DEBATE - The House continued with further debate on H.R. 807.
DEBATE - The House proceeded with one hour of debate on H.R. 807.
Rule provides for consideration of H.R. 807 with 1 hour of general debate. Motion to recommit with or without instructions allowed. Measure will be considered read. A specified amendment is in order.
Considered under the provisions of rule H. Res. 202. (consideration: CR H2539-2553; text of measure as reported in House: CR H2539)
Rule H. Res. 202 passed House.
Rules Committee Resolution H. Res. 202 Reported to House. Rule provides for consideration of H.R. 807 with 1 hour of general debate. Motion to recommit with or without instructions allowed. Measure will be considered read. A specified amendment is in order.
Placed on the Union Calendar, Calendar No. 29.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-48.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-48.
Ordered to be Reported (Amended) by the Yeas and Nays: 22 - 14.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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