IV 

111TH CONGRESS 

1ST SESSION H. RES. 950 

Expressing the sense of the House that any unobligated funds authorized 

for expenditure by the Troubled Asset Relief Program (TARP) should 

be used to create jobs for United States citizens. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 8, 2009 

Mr. JOHNSON of Georgia (for himself, Ms. RICHARDSON, Mr. LUJA ́N, Ms. 

JACKSON-LEE of Texas, Mr. ELLISON, Mr. CONYERS, and Mr. FILNER) 

submitted the following resolution; which was referred to the Committee 

on Financial Services 

RESOLUTION 

Expressing the sense of the House that any unobligated 

funds authorized for expenditure by the Troubled Asset 

Relief Program (TARP) should be used to create jobs 

for United States citizens. 

Whereas the Troubled Asset Relief Program (TARP) authorizes the Secretary of the Treasury to purchase hundreds 

of billions of dollars of assets and equity from financial 

institutions to ensure their solvency, promote trust in the 

financial system, and ease credit markets; 

Whereas TARP funds have been used to ensure that small 

businesses and individuals have access to credit; 

Whereas stress in credit markets has eased such that financial institutions have begun to repay TARP loans and 


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•HRES 950 IH 

emergency assistance to financial institutions is no longer 

necessary; 

Whereas TARP funds have been misused to fund large compensation and bonus packages for executives of financial 

institutions that required assistance from the United 

States; 

Whereas United States citizens continue to face a severe economic downturn; 

Whereas in October 2009, the Bureau of Labor Statistics reported a nationwide unemployment rate of 10.2 percent, 

the highest since the Great Depression; 

Whereas as of November 2009, the Bureau of Labor Statistics reported that the U–6 measure of unemployment, 

which includes discouraged workers and workers able to 

find only part-time employment, was 17.2 percent; 

Whereas as of November 2009, the Bureau of Labor Statistics reported that more than 15,000,000 people were unemployed; 

Whereas the monthly 105(a) report from the Department of 

Treasury, dated November 10, 2009, calculates that 

$139.3 billion of the TARP funds are unobligated funds 

authorized for expenditure; and 

Whereas according to the United States Conference of Mayors December 2008 ‘‘Ready-to-Go Jobs’’ Report, in 641 

cities in all regions of the country, a total of 15,221 local 

infrastructure projects are ‘‘shovel-ready’’ and capable of 

creating more than 1,000,000 jobs over a 2-year period: 

Now, therefore, be it 

1 Resolved, That the House of Representatives— 


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•HRES 950 IH 

1 (1) recognizes that job creation is the top pri2 ority of the United States; 

3 (2) observes that there are ‘‘shovel-ready’’ 

4 projects nationwide that could create more than 

5 1,000,000 jobs given adequate public investment; 

6 and 

7 (3) states that the $139.3 billion of unobligated 

8 funds authorized for expenditure by the Troubled 

9 Asset Relief Program should be used to create jobs 

10 for United States citizens. 

Æ 


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