Amendment101st Congress
Amendment provided for the Resolution Funding Corporation (REFCORP) to be an on-budget government corporation allowed to borrow directly from the Treasury in order to raise funds for dealing with insolvent thrifts. It exempted its borrowing from Gramm-Rudman deficit reduction provisions of law.
- Amendment Number
- 62
- Description
- Amendment provided for the Resolution Funding Corporation (REFCORP) to be an on-budget government corporation allowed to borrow directly from the Treasury in order to raise funds for dealing with insolvent thrifts. It exempted its borrowing from Gramm-Rudman deficit reduction provisions of law.
- Purpose
- An amendment to make the proposed Resolution Funding Corporation an on-budget government corporation that would borrow directly from the Treasury to raise funds for dealing with insolvent thrifts. The amendment would exempt the Corporation's borrowing from Gramm-Rudman provisions of the budget, so that off-setting spending cuts or revenue increases would not be required. The Banking Committee provisions would make the Corporation an off-budget government-sponsored corporation funded by the sale of its own bonds.
- Congress
- 101
- Type
- HAMDT
- Latest Action Date
- Jun 15, 1989
- Latest Action Text
- On agreeing to the Rostenkowski amendment (A006) Agreed to by recorded vote: 280 - 146 (Roll no. 90).
- Latest Action Time
- 17:43:43
- Submitted Date
- Jun 15, 1989
- Chamber
- House of Representatives
- Update Date
- Jul 10, 2021