HR 746
109th Congress
House
Foreign Trade and International Finance
Balance of payments
Congress
Congress and foreign policy
Congressional reporting requirements
Economic statistics
Economics and Public Finance
Foreign investments
Foreign loans
Gross national product
International Affairs
Planning
Foreign Debt Ceiling Act of 2005
Introduced: February 10, 2005
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 3, 2005
Referred to the Subcommittee on Trade.
Feb 10, 2005
Referred to the House Committee on Ways and Means.
Feb 10, 2005
Introduced in House
Plain-English summary
Foreign Debt Ceiling Act of 2005 - Requires the U.S. Trade Representative (USTR), every three months, to determine if: (1) the net U.S. foreign debt for the preceding 12-month period is more than 25 percent of the U.S. Gross Domestic Product (GDP) for the same period; or (2) the U.S. trade deficit for such period is more than five percent of the GDP for the same period. Requires the USTR, whenever an affirmative determination is made, to: (1) convene an emergency meeting of the Trade Policy Review Group to develop a plan of action to reduce the U.S. trade deficit; and (2) report to Congress on the details of the plan.
What's happening now
Referred to the Subcommittee on Trade.
Committees of jurisdiction
2