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S 3683 110th Congress Senate Finance and Financial Sector Bank failures Congress Congressional oversight Economic stabilization Economics and Public Finance Financial crises Legislative resolutions

A bill to amend the Emergency Economic Stabilization Act to require approval by the Congress for certain expenditures for the Troubled Asset Relief Program.

Introduced: November 17, 2008 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 17, 2008
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 17, 2008
Sponsor introductory remarks on measure. (CR S10544-10645)
Nov 17, 2008
Introduced in Senate
 Plain-English summary Congressional Research Service

Amends the Emergency Economic Stabilization Act to revise the limitation on the Secretary of the Treasury's authority to purchase troubled assets through the Troubled Assets Relief Program (TARP).

Changes the Joint Resolution of Disapproval, regarding authority to purchase troubled assets, to a Joint Resolution of Approval. Prohibits the Secretary, that is, from exercising any authority to make any such purchases with regard to any TARP amount authorized, and unobligated as of November 14, 2008, unless within 15 calendar days after Congress receives a report of the Secretary's plan to exercise such authority, a joint resolution approving the plan is enacted into law.

What's happening now November 17, 2008

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 2 Independent 1