Presidential candidate Rep. Michele Bachmann (R-Minn.) and other Republicans on Tuesday introduced legislation that seeks to ensure that the federal government prioritizes payments to members of the Armed Forces in the event the U.S. reaches the debt limit.
The bill, H.R. 2496, was introduced just three weeks before an Aug. 2 deadline set by the Treasury Department, which says it will run out of money to pay U.S. creditors and bills at that time without an increased borrowing limit. Talks on how to raise the debt ceiling remain stalled over the issue of whether or how to raise new government revenues through tax increases.
Rep. Steve King (R-Iowa) is the chief sponsor of the legislation, which also is co-sponsored by Bachmann and Rep. Louie Gohmert (R-Texas).