Bills
H.R.1424

H.R.1424: A bill to provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the

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About This Bill

This bill was introduced in the 110th Congress
This bill is primarily about congress
Introduced March 9, 2007
Latest Major Action Oct. 3, 2008

Bill Sponsor

Patrick J. Kennedy (D-R.I.)

Bill Cosponsors

274 (234 Democrats, 41 Republicans)

Bill Summary

Division A: Emergency Economic Stabilization - Emergency Economic Stabilization Act of 2008 - Title I: Troubled Assets Relief Program - (Sec. 101) Authorizes the Secretary of the Treasury (Secretary) to establish the Troubled Asset Relief Program (TARP) to purchase troubled assets from any financial institution, in accordance with terms, conditions, policies, and procedures the Secretary develops.Directs the Secretary to establish within the...

(Source: Library of Congress)

What Lawmakers Are Saying About This Bill

There are 11 statements associated with H.R.1424.

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Congressional Budget Office Estimate

The Congressional Budget Office has produced a cost estimate for H.R.1424.

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Bill Actions

Date	Description
	Referred to the Committee on Energy and Commerce, and in addition to the Committees on Education and Labor, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
	Referred to House Energy and Commerce
	Referred to House Education and Labor
	Referred to House Ways and Means
	Referred to the Subcommittee on Health.
	Referred to the Subcommittee on Health.
	Subcommittee Hearings Held.
	Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
	Committee Consideration and Mark-up Session Held.
	Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 9.
	Subcommittee Consideration and Mark-up Session Held.
	Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 10 - 3 .
	Committee Consideration and Mark-up Session Held.
	Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 13.
	Subcommittee Consideration and Mark-up Session Held.
	Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
	Reported (Amended) by the Committee on Education and Labor. H. Rept. 110-374, Part I.
	Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-374, Part II.
	Committee Consideration and Mark-up Session Held.
	Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 13.
	Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 110-374, Part III.
	Placed on the Union Calendar, Calendar No. 328.
	Rules Committee Resolution H. Res. 1014 Reported to House. Rule provides for consideration of H.R. 1424 with 2 hours of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments.
	Rule H. Res. 1014 passed House.
	Considered under the provisions of rule H. Res. 1014.
	Rule provides for consideration of H.R. 1424 with 2 hours of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments.
	DEBATE - The House proceeded with two hours of debate on H.R. 1424.
	The previous question was ordered pursuant to the rule.
	Mr. Hoekstra moved to recommit with instructions to Energy and Commerce.
	DEBATE - The House proceeded with 10 minutes of debate on the Hoekstra motion to recommit with instructions, pending reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with a complete new text consisting of the bill H.R. 3773, as passed by the House.
	Mr. Pallone raised a point of order against the motion to recommit with instructions. Mr. Pallone stated that the motion to recommit with instructions sought to insert non-germane material into the bill. Sustained by the Chair.
	Point of order sustained against the motion to recommit with instructions.
	Mr. Hoekstra appealed the ruling of the chair. The question was then put on sustaining the ruling of the chair.
	Mr. Pallone moved to table the motion to appeal the ruling of the chair
	On motion to table the motion to appeal the ruling of the chair Agreed to by the Yeas and Nays: 223 - 186, 1 Present (Roll no. 99).
	Mr. Kline (MN) moved to recommit with instructions to Energy and Commerce.
	Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the Kline motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment in the nature of a substitute consisting of new text entitled "Mental Health Parity Act of 2008".
	The previous question on the motion to recommit with instructions was ordered without objection.
	On motion to recommit with instructions Failed by recorded vote: 196 - 221 (Roll no. 100).
	On passage Passed by the Yeas and Nays: 268 - 148 (Roll no. 101).
	Motion to reconsider laid on the table Agreed to without objection.
	Pursuant to section 2 of H. Res. 1014, the text of H.R. 493, as passed by the House, will be appended to the engrossment of H.R. 1424.
	Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 610.
	Measure laid before Senate by unanimous consent.
	Passed Senate, pursuant to the order of September 30, 2008, having achieved the required 60 votes in the affirmative, with an amendment and an amendment to the Title by Yea-Nay Vote. 74 - 25. Record Vote Number: 213.
	Message on Senate action sent to the House.
	Rules Committee Resolution H. Res. 1525 Reported to House. Previous question shall be considered as ordered without intervening motions. Providing for consideration of the Senate amendments to H.R. 1424: the Emergency Economic Stabilization Act of 2008; the Energy Improvement and Extension Act of 2008; and the Tax Extenders and Alternative Minimum Tax Relief Act of 2008. The resolution makes in order a motion by the Chairman of the Committee on Financial Services to concur in the Senate amendments. The resolution waives all points of order against consideration of the motion.
	Pursuant to the provisions of H. Res. 1525, the House moved to agree to the Senate amendments.
	DEBATE - The House proceeded with 90 minutes of debate on the motion to agree to the Senate amendments to H.R. 1424.
	The previous question was ordered pursuant to the rule.
	On motion that the House agree to the Senate amendments Agreed to by the Yeas and Nays: 263 - 171 (Roll no. 681).
	Motion to reconsider laid on the table Agreed to without objection.
	Cleared for White House.
	Presented to President.
	Signed by President.
	Became Public Law No: 110-343.
March 9, 2007	Introduced in the House by Patrick J. Kennedy (D-R.I.)

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