II 111th CONGRESS 1st Session S. 1642 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 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.

1.

Short title

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

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. .