Today Congresswoman Michele Bachmann (MN-06) and her colleagues Congressmen Steve King (IA-05) and Louie Gohmert (TX-01) unveiled H.R. 2496, “Payment Reliability for our Obligations to Military and Investors to Secure Essential Stability Act,” or the PROMISES Act. Introduced by King, this legislation ensures spending is prioritized in the case the federal government exceeds its ability to borrow. The PROMISES Act will direct the Treasury to pay down the interest on our national  debt and ensure the Armed Forces are paid for their tireless service.

“The PROMISES Act is about priorities,” Bachmann said. “Even if we reach our borrowing limit, both the President and Congress still have a responsibility to pay the interest on our debt and provide paychecks for members of our military.

“In April, I learned that, in the event of a government slowdown in operations, our military may not be paid. This is not acceptable. The men and women in our Armed Forces sacrifice so much to keep our country safe; the least we can do is provide a paycheck so they can pay their bills. When we faced a looming slowdown in government operations I spoke out in favoring of ensuring our troops are paid. So now too, I will not allow our troops to be used as political pawns.

“I also am appalled at the President’s recent use of scare tactics in his attempt to force Congress to raise the debt ceiling. He wants us to believe that if we do not raise the debt ceiling by up to $2.5 trillion, we will default on our debt. This is simply not true. We have enough revenue coming in to continue to pay down the interest on our national debt regardless of whether or not we raise the debt ceiling. We cannot afford a blow to the reputation of the full faith and credit of the United States. As we continue to pursue a plan to cut our debt, we must do everything in our power to pay down the interest on our horrendous national deficit.

“For these reasons I am proud to support Congressman King’s legislation. With the PROMISES Act, my colleagues and I are doing the best we can to protect our nation’s credit and importantly, to help America keep her promises to its military personnel.”

Bachmann joined King and Gohmert for a press conference this morning on H.R. 2496.

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For a photo of Bachmann speaking, click here.
For more information on the legislation, click here.