Summary: H.R.6170 — 93rd Congress (1973-1974)All Information (Except Text)

There is one summary for H.R.6170. Bill summaries are authored by CRS.

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Introduced in House (03/27/1973)

Declares a moratorium on the interest accruing on all obligations of the United States.

Authorizes the Secretary of the Treasury to provide for the refunding of all outstanding interest-bearing obligations of the United States when due with twenty-year non-interest-bearing obligations.

Requires an amount equivalent to the amount of the interest saved by the United States as the result of this Act to be used solely for the purpose of reducing the public debt.