LaMalfa-Cosponsored “Full Faith & Credit Act” Passed on House Floor
Washington, DC – Rep. Doug LaMalfa (R-CA) today voted in favor of the Full Faith and Credit Act, a measure he cosponsored to ensure that the government will never default on its debts. H.R. 290 requires the Treasury Department to continue making payments on the federal government’s debt in the event of an impasse over future debt ceiling increases.
“The United States can, should and will pay its debts, and I don’t believe that this should be a partisan issue,” LaMalfa said. “This bill ensures that we can have a robust and thorough debate on the debt ceiling, rather than be pressured to approve further borrowing against our childrens’ futures. Our country must enact serious spending reductions or the administration’s borrowing will endanger our ability to fund core responsibilities like Social Security and defense.”
The bill requires that the Treasury assure the full and prompt payment of principal and interest on the national debt, even if no agreement is made to increase the national debt ceiling. This will prevent any default on the nation’s debt and preserve the country’s AAA credit rating.
Congressman Doug LaMalfa is a lifelong farmer representing California’s First Congressional District including Butte, Glenn, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sierra, Siskiyou and Tehama Counties.