zli12321/Bills huggingface dataset:
Government Shutdown Prevention Act of 2011 - Declares that, if any regular appropriation bill for a fiscal year does not become law before the beginning of the fiscal year, or a joint resolution making continuing appropriations (continuing resolution) is not in effect: (1) the Secretary of the Treasury shall fully pay principal and interest on the federal debt held by the public; and (2) Social Security, Medicare, and Medicaid benefits shall be fully paid and new enrollees shall be accepted. Declares also that, if the defense appropriations bill has not been enacted, the Department of Defense (DOD) shall operate at 90% of the level of funding for the preceding fiscal year, except for funding for overseas contingencies in Iraq and Afghanistan, which shall be funded at 100% of the preceding fiscal year levels. Authorizes DOD to pay all military personnel at the full level of pay. Requires federal employees of unfunded agencies to: (1) report for business as normal; and (2) be paid, when funding is provided, at 75% of their salaries for the time worked while under the requirements of this Act. Requires DOD civilian employees based in the United States also to be paid at 75% for the same period. Limits Congress and the Executive Office of the President to operation at 50% of the level of funding for the preceding fiscal year during a period that any agency is not funded. Prohibits Members of Congress and the President from receiving salaries or back pay during the period an agency is not funded. Requires all other non-personnel accounts not funded by a regular appropriations bill or a continuing resolution to operate at 2/3 of the level of the preceding fiscal year. Dedicates the use of savings from this reduction to reduce the federal budget deficit. Prohibits expenditure of any funds during such a period to: (1) carry out the Patient Protection and Affordable Care Act, (2) pay for any abortion, or (3) be provided to any nongovernmental organization that promotes or performs abortion.

Date: 2011-04-07
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Requires the Secretary of the Treasury to establish and administer a new series of U.S. savings bonds to be known as "Buy Back America Bonds," to be used first solely to reduce the amount of foreign-held public debt, and then to reduce other public debt. Sets the redemption date of a Buy Back America Bond at 10 years from the date of issue and its maturity date at 20 years from such date. Requires annual anniversary interest payments, which shall not be includible in gross income under the Internal Revenue Code. Requires such bonds to be issued at face value and in denominations of at least $25. Allows redemption of such a Bond before 10 years if during any fiscal year during which it is outstanding: (1) the federal budget deficit is less than 3% of gross domestic product (GDP), or (2) the public debt is less than 10% of GDP. Limits the holding of a Buy Back America Bond to: (1) U.S. citizens or residents; (2) domestic partnerships, or domestic corporations (not more than 1% of the ownership interest of which is held, directly or indirectly, by a person who is not a U.S. person); or (3) estates or trusts which are U.S. persons, unless there is a trust beneficiary who is not a U.S. person. Permits a Bond to be purchased by or transferred to an individual who provides a valid Social Security account number, not including a taxpayer identification number (TIN) provided by the Internal Revenue Service (IRS).

Date: 2011-11-18
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Federal Reserve Modernization Act of 2012 - Amends the Federal Reserve Act (FRA) to direct the Board of Governors of the Federal Reserve System (Board) and the Federal Open Market Committee (FOMC) to: (1) promote the goal of long-term price stability, and (2) establish metrics to evaluate whether long-term price stability is being achieved. Prescribes procedures for the establishment and evaluation of such metrics. Directs the Board and the FOMC to: (1) make such information available to the public on a website, and (2) report to Congress each time such metrics are set or revised. Directs the Board to include in its semi-annual report to Congress: (1) the results of the evaluation process, (2) whether the goal of long-term price stability is being met, (3) the main monetary policy instruments and strategy used by the Board and the FOMC to achieve long-term price stability, and (4) an analysis of how the policies of the Board and the FOMC are affecting the foreign exchange rate value of the U.S. dollar. Directs the Board to clearly articulate it's lender-of-last-resort policy. Revamps FOMC membership to consist of one representative from each of the Federal Reserve banks (in addition to members of the Board). Directs the FOMC to release meeting transcripts to the public within three years after each meeting. Redesignates the Department of the Treasury stabilization fund as the Special Drawing Rights Fund. Instructs the Secretary of the Treasury to liquidate all property in the Fund (other than Special Drawing Rights) and to use all such amounts to reduce the public debt. Limits the availability of the Fund solely to stabilize exchange rates and arrangements. Repeals the authority of the Secretary to deal in U.S. instruments of credit and securities. Permits only Special Drawing Rights to be deposited into the Fund. Requires funds that would otherwise have been deposited into the Fund to be paid, instead, to the Secretary to reduce the public debt. Amends the FRA to authorize the FOMC, in unusual and exigent circumstances, by the affirmative vote of 2/3 of its members, to grant any Federal Reserve bank emergency authority to buy and sell U.S. debt obligations and revenue bonds in anticipation of the collection of taxes or the receipt of assured revenues by any state or local governmental entity, as well as obligations of, or guaranteed by, a foreign government or agency. Amends the Consumer Financial Protection Act of 2010 to repeal: (1) funding for the Consumer Financial Protection Bureau (CFPB), and (2) the Bureau of Consumer Financial Protection Fund.

Date: 2012-03-28
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Federal Reserve Independence Act - Amends the Federal Reserve Act regarding class A membership on the board of directors of a Federal Reserve Bank to require the Board of Governors of the Federal Reserve System (Federal Reserve Board) to designate members from among persons who are not employed in any capacity by a stockholding bank. Requires the Federal Reserve Board to designate the class B members of such board of directors (class B members represent the public). Prohibits employees of any Federal Reserve Board-regulated entity from serving on the board of directors of any Reserve Bank. Prohibits any employee of the Federal Reserve System or any board member of a Reserve Bank from owning stock or investing in any company regulated by the Federal Reserve Board. Directs the Comptroller General to report annually to Congress to ensure implementation of this Act.

Date: 2012-05-22
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Mortgage Modification Outreach Act - Requires the Comptroller of the Currency to implement a pilot program to determine the feasibility of requiring residential mortgage loan servicers to use their affiliated national bank consumer banking branches to provide certain information to any of the servicer's residential mortgage borrowers applying for a loan modification. Specifies information relating to: (1) all relevant contact information for the borrower's single point of contact in connection with a loan modification application; and (2) the address of a nearby location where the borrower may copy, fax, scan, transmit by overnight delivery, or mail or email documents to the borrower's customer service representative or the borrower's single point of contact at the servicer.

Date: 2012-09-20
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Audit The Fed Act of 2013 - Repeals the authority of the Comptroller General (GAO) to carry out an onsite examination of an open insured bank or bank holding company only if the appropriate federal regulatory agency has consented in writing. (Retains the authority of the Comptroller General to audit a federal agency.)

Directs the Comptroller General to complete, before the end of 2014, an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve Banks, followed by a detailed report to Congress.

Date: 2013-01-03
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Provides that bond arbitrage requirements shall not apply to an issue of bonds that were partially defeased (made void) if: (1) such bonds are redeemed by the governmental issuer within 90 days of the sale of the escrow securities, and (2) any net profit remaining after the proceeds of the sale of the escrow securities have been applied to such redemption is used by the issuer for an essential governmental function within 12 months of such redemption. Makes this waiver applicable to bonds issued on January 4, 1990, that were partially defeased on July 19, 1996, with revenues of a municipally-owned electric and water system.

Date: 2013-03-14
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
Dollar Bill Act of 2013 - Directs the Board of Governors of the Federal Reserve System (Board) to: (1) designate a "Target Week"; (2) employ a random process to select a specific day, hour, minute, and second during such Target Week as "Target Moment" (which shall not be publicly disclosed); (3) make the value of the U.S. dollar at the Target Moment equal to the price of gold on the exchange operated by the Commodities Exchange, Inc. (COMEX) of the New York Mercantile Exchange, Inc.; and (4) maintain the value of the U.S. dollar within plus or minus 2% of such price ("Target Range") thereafter.

Instructs the Board maintain the value of the United States dollar within the Target Range directly, via open market operations, and not indirectly, as in the current practice of targeting the Federal Funds rate.

Requires the Board to use its banking and bank regulatory powers to maintain and promote stable and effective financial markets during and after the transition to a defined value for the U.S. dollar.

Entitles all entities that depreciate capital assets for tax purposes to 100% expensing of all capital investment for tax purposes in the year that the investment is made.

Requires the Congressional Budget Office (CBO), in addition to the scoring CBO will do of the tax changes provided in this Act, to calculate the impact on federal revenues on a present value basis.

Amends the Federal Reserve Act to remove Federal Reserve Bank authority to pay earnings on reserves.

Date: 2013-04-16
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to, or provide direct or indirect grants-in-aid to any state, municipal, local, or county government which, on or after January 1, 2013, has filed for bankruptcy, has defaulted on its obligations, is at risk of defaulting, or is likely to default, without such federal assistance if such purchase, guarantee, extension of credit, or grant is made to assist the government in: (1) avoiding defaulting on the payment of principal or interest due on an obligation of the government, or (2) curing such a default.

Prohibits the Secretary of the Treasury from using, directly or indirectly, general fund revenues or borrowed funds to purchase or guarantee, for the same purposes, any asset or obligation of any such state, municipal, local, or county government.

Prohibits the Board of Governors of the Federal Reserve System from: (1) providing or extending to, or authorizing with respect to, such a state, municipal, local, or county government, or other entity with taxing authority or bonding authority, for the same purposes, any funds, loan guarantees, credits, or any other financial instrument or other authority, including bond purchases; or (2) otherwise assisting such a government entity, for the same purposes, under any Board authority.

Waives the application of this Act for federal assistance provided in response to a natural disaster.

Date: 2013-08-02
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Save Access to a Valuable Investment Needed to Generate Savings Act of 2013 or the SAVINGS Act - Directs the Secretary of the Treasury to: (1) allow individual taxpayers an option to purchase U.S. savings bonds in paper form with a portion or all of a tax refund during the period ending on December 31, 2018; or (2) implement an alternative option that allows for the gifting of U.S. savings bonds, serves the unbanked, and retains the ability to sign-up on the return of tax.

Date: 2013-10-30
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
Federal Employees Responsible Investment Act - Establishes the Corporate Responsibility Stock Index Fund as an investment option under the Thrift Savings Fund. Directs the Federal Retirement Thrift Investment Board to select a minimum of one index for such Fund comprised of stocks that have been analyzed and selected using basic criteria, including corporate governance, environmental practices, workplace relations and benefits, product safety and impact, international operations and human rights, involvement with repressive regimes, and community relations.

Date: 2013-11-20
Topic: Macroeconomics (Monetary Policy)
Subject: Government operations and politics
USAccounts: Investing in America's Future Act of 2014 - Establishes in the Treasury the USAccount Fund to make contributions to accounts known as USAccounts, which are established under this Act for each child of a taxpayer qualifying for the child tax credit who has not attained age 17. Provides for an initial government contribution of $500 to a USAccount, private contributions up to $2,000, and government matching contributions up to $500 in a calendar year. Allows tax-exempt distributions from USAccounts for higher education expenses and for funding individual retirement plans of a qualifying child.

Establishes in the executive branch a USAccount Fund Board to manage investments in the USAccount Fund.

Amends the Internal Revenue Code to: (1) exempt the USAccount Fund and USAccounts from income taxation, and (2) increase the amount of the child tax credit by the applicable USAccount contribution amount.

Date: 2014-09-18
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to, or provide direct or indirect grants-and-aid to any state, municipal, local, or county government which, on or after January 26, 2011, has defaulted on its obligations, is at risk of defaulting, or is likely to default, without such federal assistance.

Prohibits the Secretary of the Treasury from using, directly or indirectly, general fund revenues or borrowed funds to purchase or guarantee any asset or obligation of any such state, municipal, local, or county government.

Prohibits the Board of Governors of the Federal Reserve System from: (1) providing or extending to, or authorizing with respect to, such a state, municipal, local, or county government, or other entity with taxing authority or bonding authority, any funds, loan guarantees, credits, or any other financial instrument or other authority, including bond purchases; or (2) otherwise assisting such a government entity under any Board authority.

Waives the application of this Act for federal assistance provided in response to a natural disaster.

Date: 2013-01-23
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Federal Reserve Single Mandate Act of 2013 - Amends the Federal Reserve Act to eliminate maximum employment and stable prices as goals for the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to promote in maintaining long run growth of monetary and credit aggregates. Replaces such goals with long-term price stability and a low rate of inflation. (Retains the current third goal of moderate long-term interest rates.)

Requires the Board to: (1) establish an explicit numerical definition of the term "long-term price stability," and (2) maintain monetary policy that effectively promotes such long-term price stability.

Date: 2013-02-04
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Federal Reserve Modernization Act of 2013 - Amends the Federal Reserve Act (FRA) to direct the Board of Governors of the Federal Reserve System (Board) and the Federal Open Market Committee (FOMC) to: (1) promote the goal of long-term price stability, and (2) establish metrics to evaluate whether long-term price stability is being achieved.

Prescribes procedures for the establishment and evaluation of such metrics.

Directs the Board and the FOMC to: (1) make such information available to the public on a website, and (2) report to Congress each time such metrics are set or revised.

Directs the Board to include in its semiannual report to Congress: (1) the results of the evaluation process, (2) whether the goal of long-term price stability is being met, (3) the main monetary policy instruments and strategy used by the Board and the FOMC to achieve long-term price stability, and (4) an analysis of how the policies of the Board and the FOMC are affecting the foreign exchange rate value of the U.S. dollar.

Directs the Board to clearly articulate its lender-of-last-resort policy.

Revamps FOMC membership to consist of one representative from each of the Federal Reserve banks (in addition to members of the Board).

Directs the FOMC to release meeting transcripts to the public within three years after each meeting.

Redesignates the Department of the Treasury stabilization fund as the Special Drawing Rights Fund. Instructs the Secretary of the Treasury to liquidate all property in the Fund (other than Special Drawing Rights) and to use all such amounts to reduce the public debt.

Limits the availability of the Fund solely to stabilize exchange rates and arrangements. Repeals the authority of the Secretary to deal in U.S. instruments of credit and securities. Permits only Special Drawing Rights to be deposited into the Fund. Requires funds that would otherwise have been deposited into the Fund to be paid, instead, to the Secretary to reduce the public debt.

Amends the FRA to authorize the FOMC, in unusual and exigent circumstances, by the affirmative vote of two-thirds of its members, to grant any Federal Reserve bank emergency authority to buy and sell U.S. debt obligations and revenue bonds in anticipation of the collection of taxes or the receipt of assured revenues by any state or local governmental entity, as well as obligations of, or guaranteed by, a foreign government or agency.

Amends the Consumer Financial Protection Act of 2010 to repeal: (1) funding for the Consumer Financial Protection Bureau (CFPB), and (2) the Bureau of Consumer Financial Protection Fund.

Date: 2013-02-07
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Basel III Commonsense Approach for Small Entities Act or Basel III CASE Act - Directs the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency, before issuing any final rule in relation to proposals they have issued for the International Basel III agreement on general risk-based capital requirements, to conduct an empirical study that includes: (1) a quantitative analysis of the rule's impact on the U.S. financial services sector, specifically community, mid-size, and regional financial institutions; and (2) a determination of the long-term impact of the rule, including changes to the current risk weight framework.

Allows any financial institution to provide information for the study voluntarily upon agency request, but prohibits agencies from requiring it.

Requires the study to be made available to the public for notice and comment.

Date: 2013-04-16
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Sound Money Promotion Act - Exempts gold and silver coins declared to be legal tender by the federal government or any state government from taxation.

Date: 2013-04-18
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
Requires the President, by May 15, 2013, to submit to Congress a qualifying sequester replacement plan proposing to cancel permanently at least $85.333 billion of budgetary resources available for FY2013 from any discretionary appropriations or direct spending account. Requires further that:

 up to $42.666.500 billion of budgetary resources be cancelled from defense spending (budget function 050); any cancellation of such budgetary resources comply with the policies under and consistent with amounts authorized in the National Defense Authorization Act for Fiscal Year 2013 (NDAA FY2013); the cancellation is not implemented through changes to programs or activities contained in the Internal Revenue Code, or increases governmental receipts, offsetting collections, or offsetting receipts; any cancellation of budgetary resources in a non-defense spending account may not be offset against an increase in another such account; and the proposed cancellation reduces outlays by at least $82.500 billion by the end of FY2018. Sets forth requirements for expedited consideration of a joint resolution of disapproval in both chambers of the qualifying sequester replacement plan.

Requires the President, if the joint resolution of disapproval is not enacted within seven calendar days after May 15, 2013, to cancel: (1) any sequestration order issued under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) for enforcement of a specified budget goal, and (2) the budgetary resources submitted in the qualifying sequester replacement plan.

Date: 2013-04-24
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Community Bank Preservation Act of 2014 - Amends the Federal Reserve Act to require that membership on the Board of Governors of the Federal Reserve include at least one person with demonstrated experience working in or supervising community banks having less than $10 billion total assets.

Date: 2014-04-10
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Rate of Average Time Execution Act of 2015 or the RATE Act of 2015

Amends the Federal Reserve Act to direct the Board of Governors of the Federal Reserve System to collect, publish, and keep current a set of indices, meeting specified criteria, that report the rate for dollar-denominated loans of various maturities.

Date: 2015-01-06
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Save Access to a Valuable Investment Needed to Generate Savings Act of 2015 or the SAVINGS Act 

Directs the Department of the Treasury to: (1) allow individual taxpayers an option to purchase U.S. savings bonds in paper form with a portion or all of a tax refund during the period ending on December 31, 2020; or (2) implement an alternative option that allows for the gifting of U.S. savings bonds, serves the unbanked, and retains the ability to sign-up on the return of tax.

Date: 2015-03-26
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
Bailout Prevention Act of 2015

This bill amends the Federal Reserve Act, with respect to the discounting of obligations arising out of actual commercial transactions, to declare a borrower ineligible to borrow from any emergency lending program or facility unless the Board of Governors of the Federal Reserve System and all federal banking regulators with jurisdiction over the borrower certify that, at the time the borrower initially borrows under the program or facility, the borrower is not insolvent.

A borrower shall be deemed insolvent for such purposes if it is a bridge financial company (organized by the Federal Deposit Insurance Corporation [FDIC] to resolve a covered financial company) or a bridge depository institution (a new national bank or federal savings association organized by the FDIC to assume the deposits of one or more insured depository institutions that are in default or in danger of default).

 The annual (penalty) interest rate for emergency lending must be at least 500 basis points greater than the cost of borrowing for the United States Treasury for a commensurate loan term.

The Board may create an emergency lending program or facility that does not meet the broad-based eligibility requirement (that at least five companies be eligible to participate in it) or this penalty rate requirement, but only if Congress enacts a joint resolution of approval within 30 days.

The bill reduces from 1 year to 60 days after termination the deadline by which the Government Accountability Office must release a nonredacted version of any audit report on a credit facility of the Federal Reserve System whose authorization has been terminated by the Board.

 The Board must also disclose, 60 days (currently 1 year) after it has terminated the authorization of a credit facility, any information concerning its borrowers and counterparties. In the case of a covered transaction the Board must disclose similar information 60 days after the date on which the covered transaction was conducted (currently the last day of the eighth calendar quarter following the calendar quarter of such transaction). A credit facility, unless otherwise terminated by the Board, shall be deemed to have been terminated 60 days (currently 24 months) after the date on which it ceases to makes extensions of credit and loans.

Date: 2015-06-03
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Centennial Monetary Commission Act of 2015

 (Sec. 3) This bill establishes the Centennial Monetary Commission to: (1) examine how U.S. monetary policy since the creation of the Federal Reserve Board in 1913 has affected the performance of the U.S. economy in terms of output, employment, prices, and financial stability over time; (2) evaluate various operational regimes under which the Board and the Federal Open Market Committee may conduct monetary policy in terms achieving the maximum sustainable level of output and employment and price stability over the long term; (3) evaluate the use of macro-prudential supervision and regulation and of the lender-of-last-resort function of the Board as tools of monetary policy in terms of achieving the maximum sustainable level of output and employment and price stability over the long term; and (4) recommend a course for U.S. monetary policy going forward.

The Commission shall submit to Congress and make publicly available, by December 1, 2016, a report containing a statement of its findings and conclusions.

(Sec. 8) The Commission shall terminate on June 1, 2017.

Date: 2015-06-25
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Sound Dollar Act of 2015

 Amends the Federal Reserve Act (FRA) to direct the Board of Governors of the Federal Reserve System (Board) and the Federal Open Market Committee (FOMC) to: (1) pursue the goal of long-term price stability, and (2) establish metrics to evaluate whether long-term price stability is being achieved.

Prescribes procedures for the establishment and evaluation of such metrics.

Directs the Board and the FOMC to: (1) make such information available to the public on a website, and (2) report to Congress each time such metrics are set or revised.

Directs the Board to include in its semiannual report to Congress: (1) the results of the evaluation process, (2) whether the goal of long-term price stability is being met, (3) the main monetary policy instruments and strategy used by the Board and the FOMC to achieve long-term price stability, and (4) an analysis of how the policies of the Board and the FOMC are affecting the foreign exchange rate value of the U.S. dollar.

Directs the Board to clearly articulate its lender-of-last-resort policy.

Revamps FOMC membership to consist of one representative from each of the Federal Reserve banks (in addition to members of the Board).

Directs the FOMC to release meeting transcripts to the public within three years after each meeting.

Redesignates the Department of the Treasury stabilization fund as the Special Drawing Rights Fund. Instructs the Secretary of the Treasury to liquidate all property in the Fund (other than Special Drawing Rights) and to use all such amounts to reduce the public debt.

Limits the availability of the Fund solely to stabilize exchange rates and arrangements. Repeals Treasury authority to deal in U.S. instruments of credit and securities. Permits only Special Drawing Rights to be deposited into the Fund. Requires funds that would otherwise have been deposited into the Fund to be paid, instead, to the Treasury to reduce the public debt.

Amends the FRA to authorize the FOMC, in unusual and exigent circumstances, by the affirmative vote of two-thirds of its members, to grant any Federal Reserve bank emergency authority to buy and sell U.S. debt obligations and revenue bonds in anticipation of the collection of taxes or the receipt of assured revenues by any state or local governmental entity, as well as obligations of, or guaranteed by, a foreign government or agency.

Amends the Consumer Financial Protection Act of 2010 to repeal: (1) Board funding of the Consumer Financial Protection Bureau (CFPB) as determined by the CFPB, and (2) the CFPB Fund.

Date: 2015-06-25
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Helping Americans Save Act of 2015 

Amends the Internal Revenue Code to expand eligibility for the retirement savings tax credit by increasing income eligibility limits. Allows an annual inflation adjustment to such income levels for taxable years beginning after 2015.

Amends title IV, part A (Temporary Assistance for Needy Families) of the Social Security Act to allow the disregard of the value of certain retirement plans for purposes of determining eligibility for programs to assist needy families, social security disability benefits, and low-income home energy assistance.

Date: 2015-07-28
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
The Full Employment Federal Reserve Act of 2015 

This bill amends the Federal Reserve Act with respect to the duty of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) to promote maximum employment and stable prices.

The bill defines "maximum employment" as an economy with an unemployment rate of at most 4% that generally includes a labor market in which median wages are rising with worker productivity, job seekers can find work, and involuntary part-time work is at a minimum.

The Board and the FOMC are also directed to promote a stable rate of inflation (instead of stable prices) as part of long run growth.

Date: 2015-09-17
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

(Sec. 1) This bill prohibits the Financial Stability Oversight Council (FSOC) from determining under the Financial Stability Act of 2010 that certain nonbank financial companies shall be supervised by the Board of Governors of the Federal Reserve System and subject to prudential standards until 90 days after:

 the Federal Reserve Board establishes prudential standards for nonbank financial companies, the Federal Reserve Board promulgates criteria for exempting certain types or classes of U.S. or foreign nonbank financial companies from supervision, FSOC reevaluates within 2016 each such determination and rescinds any of them if the nonbank financial company in question no longer meets specified standards, and FSOC reports to Congress its reasons for not rescinding any determination.

Date: 2015-10-29
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Universal Savings Account Act

This bill amends the Internal Revenue Code to allow for the establishment of Universal Savings Accounts. These Accounts shall be tax-exempt and may be opened by any individual who is at least 18 years of age and a U.S. citizen or legal permanent resident. Contributions to these Accounts must be in cash and may not exceed $5,500 (adjusted annually for inflation) in any calendar year. Distributions from a Universal Savings Account are excluded from the gross income of the account holder for income tax purposes.

Date: 2015-11-19
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
Financial Security Credit Act of 2015

This bill amends the Internal Revenue Code to allow an income-based tax credit equal to the lesser of $500 or 50% of the total amount deposited or contributed into designated savings products in a taxable year (financial security credit). A "designated savings product" is a qualified retirement plan, a qualified tuition plan, a Coverdell education savings account, a U.S. savings bond, a certificate of deposit with a duration of at least eight months, a savings account, or other savings product considered appropriate by the Department of the Treasury.

The Internal Revenue Service must notify individual taxpayers who may qualify for a financial security credit that they have the option of an electronic direct deposit if they deposit any portion of their tax refund into a designated savings product.

Date: 2015-12-10
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
No Bailouts for State, Territory, and Local Governments Act 

This bill prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to, or provide direct or indirect grants-in-aid to any state (defined to include the District of Columbia and any U.S. territory or possession), municipal, local, or county government that, on or after January 1, 2013, has filed for bankruptcy, has defaulted on its obligations, is at risk of defaulting, or is likely to default, without such federal assistance, if such purchase, guarantee, extension of credit, or grant is made to assist the government in: (1) avoiding defaulting on the payment of principal or interest due on an obligation of the government, or (2) curing such a default.

The Departrment of the Treasury is prohibited from using general fund revenues or borrowed funds to purchase or guarantee, for the same purposes, any asset or obligation of any such state, municipal, local, or county government.

The Board of Governors of the Federal Reserve System is prohibited from: (1) providing or extending to, or authorizing with respect to, such a state, municipal, local, or county government, or other entity with taxing authority or bonding authority, for the same purposes, any funds, loan guarantees, credits, or any other financial instrument or other authority, including bond purchases; or (2) otherwise assisting such a government entity, for the same purposes, under any Board authority.

Such prohibitions shall not apply to federal assistance provided in response to a natural disaster.

Date: 2016-05-18
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Community Bank Preservation Act of 2015

Amends the Federal Reserve Act to require that membership on the Board of Governors of the Federal Reserve include at least one person with demonstrated experience working in or supervising community banks having less than $10 billion total assets.

Date: 2015-01-07
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Fed Accountability Act of 2015 

This bill amends the Federal Reserve Act to authorize each member of the Board of Governors of the Federal Reserve System to employ and select a maximum of four individuals for the member's staff and set their salaries.

The Board must vote, at a properly noticed public meeting, on whether to resolve any enforcement action if its resolution involves the payment of at least $1 million in compensation, penalties, fines, or other payments.

The results of that vote must be: (1) included in the Board's official minutes, and (2) made publicly available on the Board's website.

Date: 2015-05-07
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Bailout Prevention Act of 2015

This bill amends the Federal Reserve Act, with respect to the discounting of obligations arising out of actual commercial transactions, to declare a borrower ineligible to borrow from any emergency lending program or facility unless the Board of Governors of the Federal Reserve System and all federal banking regulators with jurisdiction over the borrower certify that, at the time the borrower initially borrows under the program or facility, the borrower is not insolvent.

A borrower shall be deemed insolvent for such purposes if it is a bridge financial company (organized by the Federal Deposit Insurance Corporation [FDIC] to resolve a covered financial company) or a bridge depository institution (a new national bank or federal savings association organized by the FDIC to assume the deposits of one or more insured depository institutions that are in default or in danger of default).

 The annual (penalty) interest rate for emergency lending must be at least 500 basis points greater than the cost of borrowing for the United States Treasury for a commensurate loan term.

The Board may create an emergency lending program or facility that does not meet the broad-based eligibility requirement (that at least five companies be eligible to participate in it) or this penalty rate requirement, but only if Congress enacts a joint resolution of approval within 30 days.

The Bank Holding Company Act of 1956 is amended to repeal the authorization for certain financial holding companies to engage in, or own or control shares of a company that is engaged in commodity trading, selling, or investing if certain requirements are met.

Date: 2015-05-13
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Centennial Monetary Commission Act of 2015

 This bill establishes the Centennial Monetary Commission to: (1) examine how U.S. monetary policy since the creation of the Federal Reserve Board in 1913 has affected the performance of the U.S. economy in terms of output, employment, prices, and financial stability over time; (2) evaluate various operational regimes under which the Board and the Federal Open Market Committee may conduct monetary policy in terms achieving the maximum sustainable level of output and employment and price stability over the long term; and (3) recommend a course for U.S. monetary policy going forward.

The Commission shall evaluate as a tool of monetary policy: (1) macro-prudential supervision and regulation, and (2) the lender-of-last-resort function of the Board.

Date: 2015-07-16
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Sound Dollar Act of 2016

 This bill amends the Federal Reserve Act (FRA) to direct the Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) to: (1) pursue the goal of long-term price stability, and (2) establish metrics to evaluate whether long-term price stability is being achieved.

The bill also prescribes procedures for the establishment and evaluation of such metrics.

The Board and the FOMC shall: (1) make such information available to the public on a website, and (2) report to Congress each time such metrics are set or revised.

The Board must include in its semiannual report to Congress: (1) the results of the evaluation process; (2) whether the goal of long-term price stability is being met, and if not, why not, as well as remedial steps to be taken; (3) the main monetary policy instruments and strategy used by the Board and the FOMC to achieve long-term price stability; and (4) an analysis of how the policies of the Board and the FOMC are affecting the foreign exchange rate value of the U.S. dollar.

The Board must clearly articulate its lender-of-last-resort policy and make it public on the appropriate website.

FOMC membership shall consist of one representative from each of the Federal Reserve banks (in addition to members of the Board).

The FOMC shall release meeting transcripts to the public within three years after each meeting.

The Department of the Treasury stabilization fund is renamed the Special Drawing Rights Fund. Treasury shall liquidate all property in the Fund (other than Special Drawing Rights) and use all such amounts to reduce the public debt.

The Fund shall be available solely to stabilize exchange rates and arrangements. Repeals Treasury authority to deal in U.S. instruments of credit and securities. Permits only Special Drawing Rights to be deposited into the Fund. Requires funds that would otherwise have been deposited into the Fund to be paid, instead, to the Treasury to reduce the public debt.

The FRA is amended to authorize the FOMC, in unusual and exigent circumstances, by the affirmative vote of two-thirds of its members, to grant any Federal Reserve bank emergency authority to buy and sell U.S. debt obligations and revenue bonds in anticipation of the collection of taxes or the receipt of assured revenues by any state or local governmental entity, as well as obligations of, or guaranteed by, a foreign government or agency.

The Consumer Financial Protection Act of 2010 is amended to repeal: (1) Board funding of the Consumer Financial Protection Bureau (CFPB) from Federal Reserve System earnings (outside the annual appropriations process), and (2) the CFPB Fund. By this means the bill brings the CFPB into the regular appropriations process.

Date: 2015-07-23
Topic: Macroeconomics (Monetary Policy)
Subject: Economics and public finance
Federal Reserve Transparency Act of 2015 

 This bill directs the Government Accountability Office to: (1) commence and complete an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve Banks within 12 months of enactment of this Act, and (2) report findings and conclusions to Congress within 90 days of completing the audit.

The bill also repeals certain limitations upon such an audit.

Date: 2015-11-03
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Bring Accountability Now to the Fed Act of 2015

This bill prohibits members and staff of the Federal Reserve System from lobbying or issuing a pronouncement in support of or against legislation that has been introduced in Congress or in any state or local legislative body.

Date: 2015-11-17
Topic: Macroeconomics (Monetary Policy)
Subject: Finance and financial sector
Save Access to a Valuable Investment Needed to Generate Savings Act of 2016 or the SAVINGS Act

This bill directs the Department of the Treasury to allow: (1) an individual taxpayer to use a portion or all of a tax refund to purchase U.S. savings bonds in paper form for the taxpayer or for any individual designated by the taxpayer; or (2) an option for a tax return that allows for the gifting of such bonds and that serves individuals who rarely, if ever, have held a bank account and individuals who lack access to the Internet.

Date: 2016-02-02
Topic: Macroeconomics (Monetary Policy)
Subject: Taxation
Lead Poisoning Reduction Act of 2007 - Amends the Toxic Substances Control Act to establish a Select Group on Lead Exposure. Requires the Group to: (1) conduct a study of state, tribal, and local programs to protect children from exposure to lead at child-occupied facilities constructed before January 1, 1978; (2) develop baseline standards such programs must meet to receive a grant under this Act; and (3) develop a model program to protect children from exposure to lead at such facilities that can be adopted by state, local, and tribal governments. Requires the model program to meet or exceed standards that require facilities to be notified as soon as practicable after a child is diagnosed with lead poisoning and to be tested for the presence of lead upon receiving such notification. Directs the Administrator to: (1) establish a program to provide grants to assist such facilities in carrying out activities to protect children from lead exposure; (2) promulgate regulations requiring such facilities to test applicable exposure pathways for lead, prohibiting states and Indian tribes from issuing a license to such facilities until the testing is complete and the exposure to lead is eliminated, and requiring all child-occupied facilities to eliminate the risk of exposure to lead through applicable exposure pathways; and (3) apply regulations governing lead-based paint activities to contractors and workers engaged in the renovation, remodeling, or painting of such facilitates and to establish a program to provide information and training about those activities to them.

Date: 2007-07-18
Topic: Environment (Indoor Hazards)
Subject: Environmental protection
Ban Asbestos in America Act of 2007 - Amends the Toxic Substances Control Act to require the National Institute for Occupational Safety and Health to conduct a study that: (1) describes the science concerning the disease mechanisms and health effects of exposure to asbestos and other biopersistent durable fibers and methods for measuring and analyzing asbestos; (2) describes labeling practices relating to asbestos-containing material; and (3) recommends future asbestos-related disease research and exposure assessment practice needs. Requires the Administrator of the Environmental Protection Agency (EPA) to promulgate regulations that prohibit the importing, manufacturing, processing, or distributing of asbestos-containing products, subject to limited exemption upon petition and specified exemptions sought by the Department of Defense (DOD) and the National Aeronautics and Space Administration (NASA).Requires the disposal of asbestos-containing products within two years. Exempts products that are no longer in the stream of commerce or that are in the possession of an end user.Requires the Administrator to establish a plan to: (1) increase awareness of the dangers posed by asbestos-containing products and contaminants in homes and workplaces and by asbestos-related diseases; (2) provide information to, and encourage participation in research and treatment endeavors by, asbestos-related disease patients and their families and front-line health care providers; and (3) encourage health care providers and researchers to provide to patients and their families information relating to research, diagnostic, and clinical treatments relating to asbestos.Amends the Public Health Service Act to: (1) direct the Secretary of Health and Human Services to expand and coordinate research programs on diseases caused by asbestos exposure, particularly mesothelioma, asbestosis, and pleural injuries; (2) provide for establishment of a national clearinghouse for data and specimens relating to asbestos-related diseases; (3) require the Director of the National Institutes of Health (NIH) to establish an asbestos-related disease research and treatment network; and (4) direct the Secretary to support research on mesothelioma and other asbestos-related diseases that is directly relevant to the health of the Armed Forces.

Date: 2007-08-01
Topic: Environment (Indoor Hazards)
Subject: Environmental protection