S. 1198: Auto Stock for Every Taxpayer Act
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S. 1198: Auto Stock for Every Taxpayer Act
111th Congress · introduced 2009-06-08 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
federal
Follow this bill, step by step
- Where it came from: introduced 2009-06-08 · official record
- Who proposed it: Sen. Alexander, Lamar [R-TN] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Auto Stock for Every Taxpayer Act
Plain summary
Auto Stock for Every Taxpayer Act - Prohibits the Secretary of the Treasury from expending or obligating any more Troubled Asset Relief Program (TARP) funds for automobile manufacturers that have been participating in the program and have filed for bankruptcy protection. Imposes on the Secretary the fiduciary duty to maximize the return on the taxpayers' investment in such manufacturers under TARP. Authorizes persons aggrieved by violations of such fiduciary duty to bring civil actions for equitable relief. Requires the Secretary, after the emergence of such an automobile manufacturer from bankruptcy, to provide taxpayers with common stock certificates representing their shares in the aggregate common stock holdings of the federal government in such manufacturer.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Auto Stock for Every Taxpayer Act
Source: Congressional Research Service summary (Introduced in Senate)
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The strongest published arguments
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Alexander, Lamar [R-TN] · 10 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Mitch McConnell (R-KY), John Cornyn (R-TX), Roger F. Wicker (R-MS)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s1198.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>
Record fed-us-cong111-s1198 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111