S. 2938: Erasing our National Debt Through Accountability and Responsibility Plan Act of 2010
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S. 2938: Erasing our National Debt Through Accountability and Responsibility Plan Act of 2010
111th Congress · introduced 2010-01-20 · 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 2010-01-20 · official record
- Who proposed it: Sen. Thune, John [R-SD] · 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
Erasing our National Debt Through Accountability and Responsibility Plan Act of 2010
Plain summary
Erasing our National Debt Through Accountability and Responsibility Plan Act of 2010 - Terminates the authorities granted the Secretary of the Treasury under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 (EESA) to purchase troubled assets from financial institutions. Lowers the public debt limit by the amount of all TARP assistance repaid by recipients on or after the enactment of this Act, along with dividends, profits, or other funds paid to the government based on such assistance.
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
Erasing our National Debt Through Accountability and Responsibility Plan Act of 2010
Source: Congressional Research Service summary (Introduced in Senate)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Thune, John [R-SD] · 28 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
John Barrasso (R-WY), Chuck Grassley (R-IA), Mike Crapo (R-ID), Roger F. Wicker (R-MS), John Cornyn (R-TX), Susan M. Collins (R-ME), James E. Risch (R-ID), Lisa Murkowski (R-AK)
Sponsor's campaign money: Sen. Thune, John [R-SD] reported raising $4.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.
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-111s2938.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>
Record fed-us-cong111-s2938 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111