S. 869: Debt Reduction Priority Act

111th Congress · introduced 2009-04-22 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2009-04-22 · 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 Finance. 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.

What does this mean?

Official title

Debt Reduction Priority Act

Plain summary

Debt Reduction Priority Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require the Secretary of the Treasury to deposit in the Public Debt Reduction Payment Account (established by this Act) amounts received for repayment of financial assistance or payment of interest on the receipt of such assistance by an entity under the Troubled Asset Relief Program (TARP) or any program enacted by the Secretary under the authorities granted under such Act, including the Capital Purchase Program. Requires the Secretary to use amounts in the Account to pay at maturity, or to redeem or buy before maturity, any obligation of the government held by the public and included in the public debt. Reduces the public debt limit by the aggregate of amounts deposited into the Account. Excludes receipts and disbursements of the Account from consideration as new budget authority, outlays, receipts, or deficit or surplus for purposes of the President's budget, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985. Requires outlays and receipts of the Account to be excluded from any official statement of budget surplus or deficit totals issued by the Office of Management and Budget (OMB), the Congressional Budget Office (CBO), or any other federal agency or instrumentality.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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A “Nay” vote

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What does this mean? (plain words)

Official text

Debt Reduction Priority Act

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] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

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.

Words on this page, explained (2)

CBO cost estimate: The Congressional Budget Office's estimate of how a federal bill would change government spending and revenue. CBO is nonpartisan.
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s869.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s869 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111