3.0.0 869 2023-01-11T13:19:22Z 2023-01-11T13:19:22Z Senate S S 2009-04-22 111 ssfi00 Finance Committee Senate Standing Referred to 2009-04-22T22:50:37Z Debt Reduction Priority Act 111 862 S 2009-04-22 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2009-04-22 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2009-04-22 Introduced in Senate IntroReferral 10000 9 Library of Congress T000250 Sen. Thune, John [R-SD] John Thune R SD R. N E000285 Sen. Enzi, Michael B. [R-WY] MICHAEL ENZI R WY B. 2009-04-23 False Finance and Financial Sector Bank accounts, deposits, capital Budget deficits and national debt Budget process Financial crises and stabilization Government trust funds Interest, dividends, interest rates Finance and Financial Sector 00 2009-04-22 Introduced in Senate 2009-07-06T21:30:55Z Debt Reduction Priority Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require the Secretary of the Treasury to deposit in the Public Debt Reduction Payment Account (established by this Act) amounts received for repayment of financial assistance or payment of interest on the receipt of such assistance by an entity under the Troubled Asset Relief Program (TARP) or any program enacted by the Secretary under the authorities granted under such Act, including the Capital Purchase Program.

Requires the Secretary to use amounts in the Account to pay at maturity, or to redeem or buy before maturity, any obligation of the government held by the public and included in the public debt.

Reduces the public debt limit by the aggregate of amounts deposited into the Account.

Excludes receipts and disbursements of the Account from consideration as new budget authority, outlays, receipts, or deficit or surplus for purposes of the President's budget, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985. Requires outlays and receipts of the Account to be excluded from any official statement of budget surplus or deficit totals issued by the Office of Management and Budget (OMB), the Congressional Budget Office (CBO), or any other federal agency or instrumentality.

]]> Debt Reduction Priority Act Display Title Debt Reduction Priority Act Official Title as Introduced A bill to require the Secretary of the Treasury to use any amounts repaid by a financial institution that is a recipient of assistance under the Troubled Assets Relief Program for debt reduction. Introduced in Senate IS Short Titles as Introduced Debt Reduction Priority Act Introduced in Senate 2009-04-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s869is/xml/BILLS-111s869is.xml 2009-04-22 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.