S.64 - A bill to amend the Emergency Economic Stabilization Act to require approval by the Congress for certain expenditures for the Troubled Asset Relief Program.111th Congress (2009-2010)
Summary: S.64 — 111th Congress (2009-2010)
Introduced in Senate (01/06/2009)
Amends the Emergency Economic Stabilization Act to revise the process for exercising the authority of the Secretary of the Treasury to make purchases of troubled assets in excess of the $350 billion previously obligated.
Changes the Joint Resolution of Disapproval, regarding the exercise of such authority, to a Joint Resolution of Approval. Prohibits the Secretary from exercising authority to make such purchases unless a joint resolution approving the plan is enacted into law within 15 calendar days after Congress receives a report of the Secretary's plan to exercise the authority.