H.R. 189 · 112th Congress
To repeal the Troubled Asset Relief Program and to prevent future bailouts.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
WoodallSponsorNo cosponsors.
Repeals all but specified provisions (among them the temporary increase to $250,000 in deposit and share insurance coverage) of title I (Troubled Asset Relief Program) (TARP) of the Emergency Economic Stabilization Act of 2008. Restores or revives the provisions of law amended or repealed by such title as if it had not been enacted.
What it does: CRS summary · Introduced in House · Jan 5, 2011
Repeals all but specified provisions (among them the temporary increase to $250,000 in deposit and share insurance coverage) of title I (Troubled Asset Relief Program) (TARP) of the Emergency Economic Stabilization Act of 2008. Restores or revives the provisions of law amended or repealed by such title as if it had not been enacted.
Directs the Secretary of the Treasury to: (1) maintain oversight of all outstanding funds received by an entity under TARP until they are repaid; and (2) dispose of all assets received by the Treasury under TARP in a manner so as to maximize the overall return from them.
Declares that Congress finds that the federal government should not: (1) provide TARP-like programs or other bailouts for entities in the private sector; or (2) act as a creditor of last resort to the private sector.
Prohibits Congress from making any law providing a bailout for one or more entities in the private sector.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To repeal the Troubled Asset Relief Program and to prevent future bailouts.
Latest action (Jan 5, 2011): Referred to the House Committee on Financial Services.
Policy area: Economics and Public Finance · Origin: House · Introduced: Jan 5, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.