[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 3694 Introduced in Senate (IS)]







110th CONGRESS
  2d Session
                                S. 3694

To amend the Emergency Economic Stabilization Act to limit obligations 
     to $350,000,000,000, absent majority approval by the Congress.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           November 19, 2008

Mr. Sanders (for himself, Mr. Inhofe, and Mrs. Lincoln) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Emergency Economic Stabilization Act to limit obligations 
     to $350,000,000,000, absent majority approval by the Congress.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CONGRESSIONAL APPROVAL REQUIRED FOR ECONOMIC ASSISTANCE.

    Section 115 of the Emergency Economic Stabilization Act (Public Law 
110-343) is amended--
            (1) in subsection (a)(3)--
                    (A) by striking ``unless there is enacted, within 
                15 calendar days of'' and inserting ``until there is 
                enacted, not later than 15 calendar days after''; and
                    (B) by striking ``, effective upon the expiration 
                of such 15-day period,''; and
            (2) in subsection (c)--
                    (A) in the subsection heading, by striking 
                ``Disapproval'' and inserting ``Approval'';
                    (B) in paragraph (1), by striking ``disapproving'' 
                and inserting ``approving'';
                    (C) in paragraph (2)(C), by striking 
                ``disapproval'' and inserting ``approval''; and
                    (D) in paragraph (2)(D), by striking 
                ``disapproves'' and inserting ``approves''.
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