TARP Sunset and Fiscal Responsibility Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to terminate, on December 31, 2009 (as under current law), the authority of the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP).
Repeals the Secretary's authority to extend the TARP program through October 3, 2010, upon submission of a written certification to Congress.
Requires all funds repaid, and profits paid, to the Secretary by TARP recipients to be used to pay down the national debt.
Reduces the statutory limit on the public debt to $700 billion minus the amount of troubled assets purchased by the Secretary under TARP outstanding on December 31, 2009.
Introduced in House
Introduced in House
Referred to House Financial Services
Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Ways and Means
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