HR 571 · 100th Congress · Economics and Public Finance

A bill to provide for the treatment of Federal asset sale proceeds and to establish a debt retirement account.

Introduced 1987-01-08· Sponsored by Rep. Leath, Marvin [D-TX-11]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Legislation and National Security.(1987-01-20)

Plain Language Summary

[AI summary unavailable — showing source text] Requires that all proceeds from any sale of Federal assets be used solely to retire the public debt. Establishes the Debt Retirement Account for the transfer or credit of such proceeds. Requires annual reports to the Congress by the Secretary of the Treasury on the financial condition of the account.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (13)

9 Democrats4 Republicans
Rep. Baker, Richard H. [R-LA-6]LA
Rep. Henry, Paul B. [R-MI-5]MI
Rep. Bates, Jim [D-CA-44]CA
Rep. Rose, Charlie [D-NC-7]NC
Rep. Nichols, Bill [D-AL-3]AL
Rep. Montgomery, G. V. (Sonny) [D-MS-3]MS
Rep. Bryant, John W. [D-TX-5]TX
Rep. Andrews, Michael [D-TX-25]TX
Rep. Frenzel, Bill [R-MN-3]MN
Rep. Jacobs, Andrew, Jr. [D-IN-10]IN
Rep. Applegate, Douglas [D-OH-18]OH
Rep. Penny, Timothy J. [D-MN-1]MN
Rep. Armey, Richard K. [R-TX-26]TX