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Politics

House Republicans Want Government Credit to Take Priority If Debt Limit Is Breached

  • GOP bill would also prioritize Social Security payments
  • Democrats reject the maneuver, calling for debt-limit increase
House Speaker Kevin McCarthy

House Speaker Kevin McCarthy

Photographer: Ting Shen/Bloomberg

House Republicans proposed ordering the US Treasury to prioritize payments on publicly held government debt and to Social Security beneficiaries in the event Congress fails to lift the federal debt limit.

The Ways and Means Committee on Thursday debated the measure, which is expected to be cleared by the panel on a party-line vote. Democrats rejected the maneuver, calling on Republicans instead to raise or suspend the debt ceiling without conditions.