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Senate Emergency Economic Stabilization Act of 2008

1 section comment

Title I - Troubled Assets Relief Program

Sec. 134. RECOUPMENT.

Upon the expiration of the 5-year period beginning upon the date of the enactment of this Act, the Director of the Office of Management and Budget, in consultation with the Director of the Congressional Budget Office, shall submit a report to the Congress on the net amount within the Troubled Asset Relief Program under this Act. In any case where there is a shortfall, the President shall submit a legislative proposal that recoups from the financial industry an amount equal to the shortfall in order to ensure that the Troubled Asset Relief Program does not add to the deficit or national debt.

General Comments on Senate Emergency Economic Stabilization Act of 2008

Anonymous on October 2, 2008

Why 5 years? So the next president doesn't have to deal with whatever shortfall there is during his first term of office?