A bill to amend the Emergency Economic Stabilization Act to require approval by the Congress for certain expenditures for the Troubled Asset Relief Program.
About This Bill
Committee
Latest Action · January 6, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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 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 from exercising authority to make such purchases unless a joint resolution approving the plan is enacted into law within 15 calendar days after Congress receives a report of the Secretary's plan to exercise the authority.
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