Default Prevention Act

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AI Summary: The Default Prevention Act aims to address the risk of default on federal debt by allowing the Treasury Department to issue additional securities in certain circumstances. It provides a framework for proactive measures to prevent default, such as suspending investments in specific government funds and transferring funds to avoid reaching the debt limit. This bill intends to ensure the U.S. government can meet its financial obligations and avoid economic instability caused by defaulting on its debt.

Latest Action: Introduced in House

Comments Contributions Actions (6) Sponsors (1) Cosponsors (4) Text Versions (2) Roll Calls (0) Amendments (0) View All

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Actions (6):

2023-01-09 : Introduced in House
2023-01-09 : Referred to the House Committee on Ways and Means.
2023-03-09 : Committee Consideration and Mark-up Session Held.
2023-03-09 : Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 17.
2024-01-09 : Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-340.
2024-01-09 : Placed on the Union Calendar, Calendar No. 279.