House Prioritizes Debt Payments to Prevent Default

Statement

Rep. Rice (SC-07) issued the following statement on the Full Faith and Credit Act. The House of Representatives passed this legislation today to prioritize the U.S. Treasury's payments on the debt, which takes the threat of default off the table, and ensures that seniors will receive their social security payments and our military men and women will receive their paychecks.

"I was proud to join my colleagues today and put forth a plan to avoid another manufactured Washington crisis," said Rice. "Moms, Dads, Grandparents, and young adults across our country follow payment plans to pay their bills, mortgages, student loans, car loans, and personal loans--why should Washington be any different? This legislation takes the threat of a default off the table and ensures that our government honors its financial obligations to our seniors and military but we must continue to focus on the underlying problem--reckless federal spending. I will work with my colleagues in the House to cut wasteful spending, eliminate duplicative programs, and get us back on a path of prosperity."

Source