S.2938 - Erasing our National Debt Through Accountability and Responsibility Plan Act of 2010111th Congress (2009-2010)
|Sponsor:||Sen. Thune, John [R-SD] (Introduced 01/20/2010)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||01/20/2010 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: S.2938 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in Senate (01/20/2010)
Erasing our National Debt Through Accountability and Responsibility Plan Act of 2010 - Terminates the authorities granted the Secretary of the Treasury under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 (EESA) to purchase troubled assets from financial institutions.
Lowers the public debt limit by the amount of all TARP assistance repaid by recipients on or after the enactment of this Act, along with dividends, profits, or other funds paid to the government based on such assistance.