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Rep. Foster Votes Against “Pay China First Act”

May 9, 2013
Press Release

Washington, DC—Today, Congressman Bill Foster (IL-11) voted against H.R. 807, the Full Faith and Credit Act, better known as the “Pay China First Act.”  

The legislation introduced by House Republican leadership would require the U.S. Treasury to pay the principal and interest on government debt while removing guarantees to pay any other debts or obligations.  This means many government bills could go unpaid, including pay for active-duty military, Medicare payments and veterans’ benefits.

“We need serious proposals for deficit reduction, not more partisan legislative maneuvering that puts at risk the full faith and credit of the United States government,” said Foster.  “We can’t solve our deficit or spending problems by saying we’re going to pay some of our bills, but not others, which is what the ‘Pay China First Act’ would do.  Instead of developing a plan to default on our commitments, House Republican Leadership should appoint budget conferees so that we can work together to create a budget that addresses the structural issues driving our debt in a responsible and balanced way.”

Foster also supported an amendment to block the Treasury from borrowing above the debt limit to pay for compensation for Members of Congress.