To amend the Commodity Credit Corporation Charter Act to index the borrowing authority limit of Commodity Credit Corporation for inflation, and for other purposes.

Bill: 116-hr-7679
Sponsor: full_name: Rep. Crawford, Eric A. "Rick" [R-AR-1]
Introduced: 2020-07-20
Policy area: Finance and Financial Sector
Subjects: Corporate finance and management

Credit and credit markets
Latest action: action_date: 2020-07-20
text: Referred to the House Committee on Agriculture.

Summaries:
action_date: 2020-07-20
action_desc: Introduced in House
text: <p>This bill increases the borrowing authority limit of the Commodity Credit Corporation and indexes this limit to inflation.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 7679 IN THE HOUSE OF REPRESENTATIVES July 20, 2020 Mr. Crawford introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Commodity Credit Corporation Charter Act to index the borrowing authority limit of Commodity Credit Corporation for inflation, and for other purposes.

1. Indexing borrowing authority limit of Commodity Credit Corporation for inflation Section 4(i) of the Commodity Credit Corporation Charter Act ( 15 U.S.C. 714b(i) ) is amended by striking in the aggregate $30,000,000,000. and inserting the following: in the aggregate, for each fiscal year preceding fiscal year 2021, $30,000,000,000 and beginning with fiscal year 2021, $68,000,000,000. Beginning with fiscal year 2021, the amount referred to in the preceding sentence shall be increased each fiscal year based on the percentage increase in the consumer price index for all urban consumers (all items; United States city average), over the preceding fiscal year. .