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Bill Would Protect Military Pay if Govt. Defaults

Rep. Steve King (R-IA)

House lawmakers introduced a bill Wednesday that ensures military personnel will still be paid even if the federal government defaults, GovExec reports.

Rep. Steve King (R-IA), a co-sponsor, introduced H.R. 2496, the “PROMISES (Payment Reliability for our Obligations to Military and Investors to Secure Essential Stability) Act” to prevent interruption to both payment for military personnel and payments to service the U.S. public debt.

“We are setting priorities,” King said. “We are protecting military pay and we’re protecting the full faith and credit of the United States.”

Reps. Michele Bachmann (R-MN) and Louie Gohmert (R-TX) also co-sponsor the PROMISES Act.

The government hit its debt ceiling of $14.3 trillion May 16, and the Treasury has a debt issuance suspension period that runs until Aug. 2.

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