H.R. 5319 · 111th Congress
Foreign-Held Debt Transparency and Threat Assessment Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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Forbes0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Foreign-Held Debt Transparency and Threat Assessment Act - Expresses the sense of Congress about the growing federal debt of the United States, the increasing U.S. dependence on foreign creditors like its largest foreign creditor, the People's Republic of China, whose holdings could give China a tool with which to manipulate U.S.
What it does: CRS summary · Introduced in House · May 18, 2010
Foreign-Held Debt Transparency and Threat Assessment Act - Expresses the sense of Congress about the growing federal debt of the United States, the increasing U.S. dependence on foreign creditors like its largest foreign creditor, the People's Republic of China, whose holdings could give China a tool with which to manipulate U.S. policymaking (including with respect to Taiwan) and pose a direct threat to the national economy and national security.
Directs the President to report quarterly to certain congressional committees on the risks posed by foreign holdings of U.S. debt instruments, and make such report public on the Internet.
Directs the Comptroller General to report annually to certain congressional committees on such risks.
Directs the President to formulate, report to the appropriate congressional committees, and implement a plan of action to reduce an unsustainable level of risk to an acceptable and sustainable level, in a manner that results in a reduction in federal spending, in any case in which the President or the Comptroller General makes specified determinations that a foreign country's holdings of U.S. debt instruments pose an unacceptable risk to long-term national security or economic stability, or that the levels of risk posed by the federal debt are unsustainable.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Foreign-Held Debt Transparency and Threat Assessment Act
Latest action (May 21, 2010): Referred to the Subcommittee on Health.
Policy area: Foreign Trade and International Finance · Origin: House · Introduced: May 18, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.