|Sponsor||Rep. Scalise, Steve|
|Date||September 20, 2013 (113th Congress, 1st Session)|
|Staff Contact||Kimberly Betz|
On Friday, September 20, 2013, the House will consider the Scalise Amendment to H.J.Res. 59, under a rule. H.J.Res. 59 was introduced on September 10, 2013 by Representative Hal Rogers (R-KY), Chairman of the House Committee on Appropriations. The Scalise Amendment was posted on Wednesday, September 18, 2013.
The Scalise Amendment incorporates the text of both H.R. 807, the Full, Faith and Credit Act and H.R. 2682, a bill to prohibit the funding of the Patient Protection and Affordable Care Act.
The amendment prohibits the funding of any provision of the Patient Protection and Affordable Care Act or title I and subtitle B of title II of the Health Care and Education Reconciliation Act of 2010. It repeals any benefit and/or entitlement included in each of the above mentioned Acts and rescinds any and all unobligated balances.
In addition, it requires the Secretary of the Treasury (Treasury) to make timely payments of principal and interest when the statutory debt limit is reached by issuing debt exempt from the limit. Interest is defined to include interest owed to the Social Security Trust Funds, which provides Treasury access to debt held by the Social Security Trust Funds (debt already subject to the limit) enabling Social Security benefits to be paid in full. In order to ensure that Treasury cannot issue debt to fund new spending, the legislation provides that this authority may only be used when the debt limit is reached and further, that if room becomes available under the debt limit, any exempt debt previously issued will be made subject to the limit. Finally, H.R. 807 requires that the Secretary submit a weekly accounting record to the House Committee on Ways and Means and the Senate Finance Committee of the principal on mature obligations and interest that is due or accrued and any obligations issued pursuant to the new authority.
For questions or further information contact the Conference Policy Shop at 5-5107.