To establish a deficit-neutral reserve fund to end "too big to fail" bailouts for Wall Street mega-banks (over $500 billion in total assets).
What it does: Adds SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO END "TOO BIG TO FAIL" BAILOUTS FOR WALL STREET MEGA-BANKS (OVER $500 BILLION IN TOTAL ASSETS) wherever appropriate
Sen. Sherrod Brown (D-OH)What it changes
1 change to S.Con.Res. 11
Adds SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO END "TOO BIG TO FAIL" BAILOUTS FOR WALL STREET MEGA-BANKS (OVER $500 BILLION IN TOTAL ASSETS) wherever appropriate
Adds a sectionInserted: SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO END "TOO BIG TO FAIL" BAILOUTS FOR WALL STREET MEGA-BANKS (OVER $500 BILLION IN TOTAL ASSETS).
Inserted: The Chairman of the Committee on the Budget of the Senate may revise the allocations of a committee or committees, aggregates, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, amendments between the Houses, motions, or conference reports relating to any bank holding companies with over $500,000,000,000 in total assets to better protect taxpayers, including such measures as capital or leverage requirements, restrictions on the growth, activities, or operations of a company, or divestiture of assets or operations of any company that is unable to present a credible plan to facilitate an orderly bankruptcy or resolution, without raising new revenue, by the amounts provided in such legislation for those purposes, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2016 through 2020 or the period of the total of fiscal years 2016 through 2025.
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 994. Mr. BROWN (for himself and Mr. Vitter) submitted an amendment intended to be proposed by him to the concurrent resolution S. Con. Res. 11, setting forth the congressional budget for the United States Government for fiscal year 2016 and setting forth the appropriate budgetary levels for fiscal years 2017 through 2025; as follows:
At the appropriate place, insert the following:
SEC. ___. DEFICIT-NEUTRAL RESERVE FUND TO END “TOO BIG TO FAIL” BAILOUTS FOR WALL STREET MEGA-BANKS (OVER $500 BILLION IN TOTAL ASSETS).
The Chairman of the Committee on the Budget of the Senate may revise the allocations of a committee or committees, aggregates, and other appropriate levels in this resolution for one or more bills, joint resolutions, amendments, amendments between the Houses, motions, or conference reports relating to any bank holding companies with over $500,000,000,000 in total assets to better protect taxpayers, including such measures as capital or leverage requirements, restrictions on the growth, activities, or operations of a company, or divestiture of assets or operations of any company that is unable to present a credible plan to facilitate an orderly bankruptcy or resolution, without raising new revenue, by the amounts provided in such legislation for those purposes, provided that such legislation would not increase the deficit over either the period of the total of fiscal years 2016 through 2020 or the period of the total of fiscal years 2016 through 2025.
Legislative Activity
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Senate amendment agreed to: Amendment SA 994 agreed to in Senate by Voice Vote.
March 27, 2015
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Senate amendment agreed to: Amendment SA 994 agreed to in Senate by Voice Vote.
March 27, 2015
Amendment SA 994 agreed to in Senate by Voice Vote.
March 27, 2015
Senate amendment submitted
March 26, 2015
Senate amendment proposed (on the floor): Amendment SA 994 proposed by Senator Enzi for Senator Brown.(consideration: CR S1995-1997, S2011; text: CR S1996-1997)
March 26, 2015
Senate amendment submitted
March 26, 2015
Amendment SA 994 proposed by Senator Enzi for Senator Brown. (consideration: CR S1995-1997, S2011; text: CR S1996-1997) To establish a deficit-neutral reserve fund to end "too big to fail" bailouts for Wall Street mega-banks (over $500 billion in total assets).
March 26, 2015