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![handle is hein.congrecreports/crptxafya0001 and id is 1 raw text is: AUTHENTICATED
U.GOVERNMENT
INFORMATION .
118TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 118-340
DEFAULT PREVENTION ACT
JANUARY 9, 2024.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. SMITH of Missouri, from the Committee on Ways and Means,
submitted the following
R E P O R T
together with
DISSENTING VIEWS
[To accompany H.R. 187]
[Including cost estimate of the Congressional Budget Office]
The Committee on Ways and Means, to whom was referred the
bill (H.R. 187) to ensure the payment of interest and principal of
the debt of the United States, having considered the same, reports
favorably thereon with an amendment and recommends that the
bill as amended do pass.
CONTENTS
Page
I. SUMMARY AND BACKGROUND ............................................................. 3
A. Purpose and Summary ..................................................................... 3
B. Background and Need for Legislation ............................................. 4
C. Legislative History ........................................................................... 4
D. Designated Hearing ......................................................................... 4
II. EXPLANATION OF THE BILL ................................................................... 4
A. The Default Prevention Act ............................................................ 4
III. VOTE OF THE COMMITTEE ...................................................................... 6
IV. BUDGET EFFECTS OF THE BILL .......................................................... 7
A. Committee Estimate of Budgetary Effects ..................................... 7
B. Statement Regarding New Budget Authority and Tax Expendi-
tures Budget Authority ................................................................. 7
V. COST ESTIMATE PREPARED BY THE CONGRESSIONAL BUDGET
OFFICE ....................................................................................................... 7
VI. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF
THE HOUSE .............................................................................................. 8
A. Committee Oversight Findings and Recommendations ................. 8
B. Statement of General Performance Goals and Objectives ............. 8
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