IA 
111TH CONGRESS 
1ST SESSION 
H. J. RES. 27 
Establishing a bipartisan Joint Select Committee on Long-Term Financial 
Security. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 3, 2009 
Mr. YOUNG of Alaska introduced the following joint resolution; which was 
referred to the Committee on Rules 
JOINT RESOLUTION 
Establishing a bipartisan Joint Select Committee on Long- 
Term Financial Security. 
Resolved by the Senate and House of Representatives
of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This joint resolution may be cited as the ‘‘Safe-
guarding America’s Future Economy Act of 2009’’. 
SEC. 2. ESTABLISHMENT. 
There is hereby established a bipartisan Joint Select 
Committee on Long-Term Financial Security (hereinafter 
in this Act referred to as the ‘‘joint select committee’’). 
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SEC. 3. COMPOSITION. 
The joint select committee shall be composed of 6 
Members of the House of Representatives, of whom 3 shall 
be appointed by the Speaker and 3 by the minority leader, 
and 6 Members of the Senate, of whom 3 shall be ap-
pointed by the majority leader and 3 by the minority lead-
er. A vacancy in the membership of the joint select com-
mittee shall be filled in the same manner as the original 
appointment. 
SEC. 4. JURISDICTION. 
The joint select committee shall not have legislative 
jurisdiction and shall have no authority to take legislative 
action on any bill or resolution. Its sole authority shall 
be to investigate, study, make findings, and develop rec-
ommendations on policies, strategies, technologies and 
other innovations, intended to ensure the long-term sol-
vency and stability of the United States financial system. 
SEC. 5. PROCEDURE. 
(a) In carrying out its duties under this Act, the joint 
select committee is authorized to— 
(1) hold such hearings, to sit and act at such 
places and times within the United States during the 
sessions, recesses, and adjourned periods of Con-
gress; 
(2) require the attendance of such witnesses 
and the production of such books, papers, and docu-
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ments, administer such oaths, take such testimony, 
procure such printing and binding as it deems nec-
essary; and 
(3) make such rules respecting its organization 
and procedures as it deems necessary. 
(b) Vacancies in the membership of the joint select 
committee shall not affect the power of the remaining 
members to execute the functions of the joint select com-
mittee. The joint select committee shall select a chairman 
and a vice chairman from among its members at the be-
ginning of each Congress. The vice chairman shall act in 
place of the chairman in the absence of the chairman. The 
chairmanship shall alternate between the Senate and the 
House of Representatives with each Congress, and the 
chairman shall be selected by the Members from that 
House entitled to the chairmanship. The vice chairman 
shall be chosen from the House other than that of the 
chairman by the Members from that House. 
(c) The joint select committee may appoint and fix 
the compensation of such staff as it deems necessary. 
SEC. 6. FUNDING. 
(a) Notwithstanding any law, rule, or other authority, 
there shall be paid out of the applicable accounts of the 
House of Representatives such sums as may be necessary 
for one-half of the expenses of the joint select committee. 
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Such payments shall be made on vouchers signed by the 
chairman or vice chairman of the joint select committee 
who is a Member of the House of Representatives, as the 
case may be, and approved in the manner directed by the 
Committee on House Administration of the House of Rep-
resentatives. Amounts made available under this sub-
section shall be expended in accordance with regulations 
prescribed by the Committee on House Administration of 
the House of Representatives. 
(b) øTo be supplied by the Senate¿. 
SEC. 7. REPORTING. 
The joint select committee shall from time to time 
report to the House of Representatives and the Senate the 
results of its investigations and studies, together with such 
detailed findings and recommendations as it may deem ad-
visable. 
Æ 
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