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HR 3140 111th Congress House Economics and Public Finance Appropriations Bank accounts, deposits, capital Broadcasting, cable, digital technologies Budget deficits and national debt Computers and information technology Congressional oversight Corporate finance and management Financial crises and stabilization Health care costs and insurance Health information and medical records Health programs administration and funding Housing finance and home ownership Intergovernmental relations Medicaid Medicare Securities State and local finance Unemployment Wages and earnings

Reducing Barack Obama's Unsustainable Deficit Act

Introduced: July 9, 2009 See on congress.gov
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 Everywhere this bill has been 16 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 10, 2009
Referred to the Subcommittee on Water Resources and Environment.
Jul 10, 2009
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Jul 10, 2009
Referred to the Subcommittee on Highways and Transit.
Jul 10, 2009
Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Jul 10, 2009
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
Jul 10, 2009
Referred to the Subcommittee on Aviation.
Jul 10, 2009
Referred to the Subcommittee on Communications, Technology, and the Internet.
Jul 10, 2009
Referred to the Subcommittee on Health.
Jul 9, 2009
Referred to House Veterans' Affairs
Jul 9, 2009
Referred to House Transportation and Infrastructure
Jul 9, 2009
Referred to House Ways and Means
Jul 9, 2009
Referred to House Appropriations
Jul 9, 2009
Referred to House Energy and Commerce
Jul 9, 2009
Referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Appropriations, Ways and Means, Transportation and Infrastructure, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 9, 2009
Referred to House Financial Services
Jul 9, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Reducing Barack Obama's Unsustainable Deficit Act - Rescinds all unobligated balances of the discretionary appropriations made available in division A of the American Recovery and Reinvestment Act of 2009 (ARRA).

Repeals subtitles B (Assistance for Vulnerable Individuals) and C (Economic Recovery Payments to Certain Individuals) of title II (the Assistance for Unemployed Workers and Struggling Families Act) and titles III (Premium Assistance for COBRA Benefits), IV (Medicare and Medicaid Health Information Technology; Miscellaneous Medicare Provisions), V (State Fiscal Relief), VI (Broadband Communications), and VII (Limits on Executive Compensation) of division B of ARRA.

Amends the Emergency Economic Stabilization Act of 2008 (EESA) to terminate upon enactment of this Act (currently, December 31, 2009) the Secretary of the Treasury's authority to establish the Troubled Asset Relief Program (TARP) and the program to guarantee troubled assets originated or issued before March 14, 2008, including mortgage-backed securities. Repeals the authorization for a two-year extension of such authority if the Secretary submits a specified certification to Congress.

Requires the Secretary, each time a financial institution makes a TARP repayment, to transfer such repayments to the special account established in the Treasury for reducing public debt.

What's happening now July 10, 2009

Referred to the Subcommittee on Water Resources and Environment.

 Committees of jurisdiction 14
 Cosponsors 18
All 18 Republican 18