[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1642 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1642

To reduce the national debt and eliminate the current slush fund at the 
Treasury Department by directing that proceeds from the Troubled Asset 
   Relief Program go toward a reduction in the statutory debt limit.


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                   IN THE SENATE OF THE UNITED STATES

                             August 6, 2009

 Mr. Brownback introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

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                                 A BILL


 
To reduce the national debt and eliminate the current slush fund at the 
Treasury Department by directing that proceeds from the Troubled Asset 
   Relief Program go toward a reduction in the statutory debt limit.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Save American Free Enterprise Act'' 
or the ``SAFE Act''.

SEC. 2. REDUCTION OF STATUTORY LIMIT ON THE PUBLIC DEBT.

    Section 3101 of title 31, United States Code, is amended--
            (1) in subsection (b), by inserting ``minus the aggregate 
        amounts described in subsection (d)'' before ``, outstanding at 
        one time''; and
            (2) by adding at the end the following:
    ``(d) Amounts described in this subsection are $80,893,000,000 plus 
any additional amounts which are received by the Secretary of the 
Treasury pursuant to section 106(d) of the Emergency Economic 
Stabilization Act of 2008 plus the interest and dividends attributable 
to those amounts after August 7, 2009.''.
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