Section 1 Short title
This Act may be cited as the “Prioritize Spending Act of 2013”.
Prioritize Spending Act of 2013
A BILL
To specify the priority of the obligations of the United States Government if the debt ceiling is reached.
Sec. 2 Priority of payments if the debt ceiling is reached
In the event that the debt of the United States Government, as defined in section 3101 of title 31, United States Code, reaches the statutory limit, amounts necessary for obligations incurred by the Government of the United States shall be made available to the following obligations before all other obligations and shall be made available as prioritized in the following order (with items listed in descending order of prioritization):
Amounts necessary to carry out the authority of the Department of the Treasury provided in section 3123 of title 31, United States Code, to pay with legal tender the principal and interest on debt held by the public.
Such amounts as the Secretary of Defense (and the Secretary of Homeland Security in the case of the Coast Guard) determines to be necessary to continue to provide pay and allowances (without interruption) to members of the Army, Navy, Air Force, Marine Corps, and Coast Guard, including reserve components thereof, who perform active service.
Such amounts as the President certifies to the Congress are necessary to carry out vital national security priorities.
Amounts necessary to carry out the authority of the Commissioner of Social Security to pay monthly old-age, survivors', and disability insurance benefits under title II of the Social Security Act.
Amounts necessary to make payments under the Medicare program under title XVIII of the Social Security Act.