But Republican Study Committee Chairman Jim Jordan (R-Ohio), who is a cosponsor of McClintock's bill, said the administration is using "scare tactics" to get the ceiling lifted and allow more spending.

"A pitiful scare tactic is being used by the Treasury Secretary in the debt ceiling debate,” said Jordan. “Secretary Geithner knows full well that he has the authority to prioritize federal spending so that default is not an option. This bill will take Secretary Geithner’s disastrous scenario completely off the table.”

Because the Constitution gives the House of Representatives the power of the purse the Treasury must spend within limits set by the Congress.

According to a press release from McClintock's office, H.R. 421 or the "Full Faith and Credit Act," is also being co-sponsored by Reps. Virginia FoxxVirginia Ann FoxxOvernight Regulation: House passes bill to overturn joint-employer rule | Trump officials to allow work requirements for Medicaid | Lawmakers 'alarmed' by EPA's science board changes House passes bill to overturn controversial joint-employer ruling Bipartisan group of lawmakers aim to reform US sugar program MORE (R-N.C.) and Scott GarrettErnest (Scott) Scott GarrettOvernight Finance: Trump repeals consumer arbitration rule | GOP scrambles on tax bill | Trump floats repealing ObamaCare mandate in tax bill | Powell told he'll be picked for Fed chair | Fed holds off on rate hike | Bank nominee gets rough reception Manufacturers increase pressure against Ex-Im nominee Garrett Trump bank nominee gets rough reception at confirmation hearing MORE (R-N.J.).

A companion bill was also introduced in the Senate on Tuesday by Sen. Pat Toomey (R-Pa.).