To terminate authority under the Troubled Asset Relief Program, and for other purposes.

SA 3301. Mr. THUNE (for himself, Mr. Vitter, Mr. Inhofe, Mr. Johanns,
Mrs. Hutchison, Mr. Brownback, Mr. LeMieux, Mr. Burr, Mr. Enzi, Mr.
Coburn, Mr. Barrasso, Mr. Bennett, Ms. Snowe, Mr. Grassley, Mr. Ensign,
Mr. Crapo, Mr. Wicker, Mr. Bunning, Mr. Graham, and Mr. Cornyn)
proposed an amendment to amendment SA 3299 proposed by Mr. Baucus (for
Mr. Reid) to the joint resolution H.J. Res. 45, increasing the
statutory limit on the public debt; as follows:

=========================== NOTE ===========================

On page S57, January 20, 2010, in the middle column, under TEXT
OF AMENDMENTS, the official title of the joint resolution for each
amendment is missing.

The Record has been corrected to read: SA 3301. Mr. THUNE
proposed an amendment to amendment SA 3299 proposed by Mr. Baucus
(for Mr. Reid) to the joint resolution H.J. Res. 45, increasing
the statutory limit on the public debt; as follows:

========================= END NOTE =========================

At the appropriate place, insert the following:

SEC. __. REPEAL OF THE TROUBLED ASSET RELIEF PROGRAM.

(a) In General.--Notwithstanding any other provision of
law, the authorities provided under section 101(a) of the
Emergency Economic Stabilization Act of 2008 (excluding
section 101(a)(3)) and under section 102 of such Act shall
terminate on the date of enactment of this resolution.
(b) Lowering of National Debt Limit To Correspond to TARP
Repayments.--Section 3101 of title 31, United States Code, is
amended--
(1) in subsection (b), by inserting after the dollar
limitation contained in such subsection the following: ``, as
such amount is reduced by the amount described under
subsection (d)''; and
(2) by adding at the end the following new subsection:
``(d) The amount described under this subsection is the
amount that equals the amount of all assistance received
under title I of the Emergency Economic Stabilization Act of
2008 that is repaid on or after the date of enactment of this
subsection, along with any dividends, profits, or other funds
paid to the Government based on such assistance on or after
the date of enactment of this subsection.''.

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