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107TH CONGRESS

1ST SESSION S. 1431

To authorize the Secretary of the Treasury to issue War Bonds in support

of recovery and response efforts relating to the September 11, 2001

hijackings and attacks on the Pentagon and the World Trade Center,

and for other purposes.

IN THE SENATE OF THE UNITED STATES

SEPTEMBER 14, 2001

Mr. MCCONNELL (for himself and Mr. BURNS) introduced the following bill;

which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To authorize the Secretary of the Treasury to issue War

Bonds in support of recovery and response efforts relating to the September 11, 2001 hijackings and attacks

on the Pentagon and the World Trade Center, and for

other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE.

4 This Act may be cited as the ‘‘War Bonds Act of

5 2001’’.

6 SEC. 2. FINDINGS AND PURPOSE.

7 (a) FINDINGS.—Congress finds that—
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1 (1) on September 11, 2001, acts of war were

2 committed against the United States of America, in3 juring and killing thousands of innocent civilians;

4 (2) while these acts of war were directed at

5 symbols of America’s military and economic superi6 ority, the United States remains the most pros7 perous and free Nation on earth;

8 (3) among the innocent Americans killed in

9 these attacks were some of our bravest fire, police,

10 and rescue personnel, who gave their lives in an at11 tempt to save their fellow citizens;

12 (4) the American people are resilient and reso13 lute in their commitment to the defense of our Na14 tion and are unbowed in the face of our Nation’s

15 perils;

16 (5) throughout our history and during the dark17 est hours of our Nation, the American people in18 stinctively and unfailingly have answered the call to

19 action and have rallied to the cause of freedom, de20 mocracy, and justice;

21 (6) in this time of crisis, the American people

22 have proven to be compassionate and generous in

23 making sacrifices and providing support for the de24 fense of our Nation and the welfare of their fellow

25 citizens;
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1 (7) from May 1941 through 1945, the Amer2 ican people selflessly purchased more than

3 $185,000,000,000 in Government war bonds to fi4 nance the Allied victory over our Axis enemies;

5 (8) the ongoing war against the scourge of ter6 rorism will require the United States to expend un7 precedented resources to rescue the injured, rebuild

8 the broken, and retaliate against the enemy; and

9 (9) the United States must call upon this same

10 charitable and patriotic spirit to once again ensure

11 that our families, our freedoms, and our uniquely

12 American way of life are protected.

13 (b) PURPOSE.—The purpose of this Act is to estab14 lish a new class of Government bonds to finance the re15 building effort necessitated by the September 11, 2001,

16 hijackings and attacks on the Pentagon and the World

17 Trade Center.

18 SEC. 3. AUTHORIZATION FOR THE ISSUANCE OF WAR

19 BONDS.

20 Section 3102 of title 31, United States Code, is

21 amended by adding at the end the following:

22 ‘‘(f) WAR BONDS AUTHORIZED.—

23 ‘‘(1) IN GENERAL.—The Secretary may issue

24 bonds, to be known as ‘War Bonds’, under this sec-
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1 tion in response to the acts of terrorism perpetrated

2 against the United States on September 11, 2001.

3 ‘‘(2) FORM.—The bonds authorized by para4 graph (1) shall be in such form and denominations,

5 and shall be subject to such terms and conditions of

6 issue, conversion, redemption, maturation, payment,

7 and rate of interest as the Secretary may pre8 scribe.’’.

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