S. 163: Full Faith and Credit Act

112th Congress · introduced 2011-01-25 · Economics and Public Finance · Latest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 2.

federal

Follow this bill, step by step

Where it came from: introduced 2011-01-25 · official record
Who proposed it: Sen. Toomey, Patrick [R-PA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 2. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Full Faith and Credit Act

Plain summary

Full Faith and Credit Act - Requires the authority of the Department of the Treasury to pay the principal and interest on debt held by the public to take priority over all other obligations incurred by the government in the event the federal debt reaches the statutory limit.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Full Faith and Credit Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Toomey, Patrick [R-PA] · 22 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mike Lee (R-UT), John Barrasso (R-WY), Ron Johnson (R-WI), Rand Paul (R-KY), James E. Risch (R-ID), John Cornyn (R-TX), Roger F. Wicker (R-MS)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Statute: A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s163.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s163 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112