S 3694
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 limit obligations to $350,000,000,000, absent majority approval by the Congress.
Introduced: November 19, 2008
Introduced by:
Sanders, Bernard
Independent
· Vermont
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 19, 2008
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 19, 2008
Introduced in Senate
Plain-English summary
Amends the Emergency Economic Stabilization Act to revise the process for exercising the authority of the Secretary of the Treasury to make purchases of troubled assets in any amount in excess of the $350 billion previously obligated.
Changes the Joint Resolution of Disapproval, regarding the exercise of such authority, to a Joint Resolution of Approval. Prohibits the Secretary, that is, from exercising any authority to make any such purchases unless within 15 calendar days after Congress receives a report of the Secretary's plan to exercise the authority, a joint resolution approving the plan is enacted into law.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1