Summary: H.R.7276 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.7276. Bill summaries are authored by CRS.

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Introduced in House (11/19/2008)

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 a joint resolution approving the plan is enacted into law.