Post by Bruce on Jul 1, 2014 1:10:06 GMT -5
In the House of Representatives of the United States of America, Mr. TERRUS, for himself and Mr. HUGHES, offers: A BILL To provide for the federal government to assume state debts. BE IT ENACTED by the House of Representatives of the United States of America, in Congress assembled, that:
Section 1. The Treasury shall pay all outstanding debts incurred by the Confederacy, and the Continental Congress, within one year of the enactment of this act, and shall issue bonds as necessary to afford this payment.
Section 2. The Treasury shall pay all outstanding debts incurred by the states in the course of the War for Independence, and shall issue bonds as necessary to afford this payment.
Section 3. There is hereby created in Title V a new Chapter, Section 4, to be entitled "Debt", and this Chapter will read as follows:
Chapter 4. Debt.
Section 13. Issuance.
The Treasurer may issue bonds, and take loans, only with the authorization of Congress.
Section 14. Report.
The Treasurer will issue an annual report to Congress detailing the exact amount of debt accrued by the United States.
Section 1. The Treasury shall pay all outstanding debts incurred by the Confederacy, and the Continental Congress, within one year of the enactment of this act, and shall issue bonds as necessary to afford this payment.
Section 2. The Treasury shall pay all outstanding debts incurred by the states in the course of the War for Independence, and shall issue bonds as necessary to afford this payment.
Section 3. There is hereby created in Title V a new Chapter, Section 4, to be entitled "Debt", and this Chapter will read as follows:
Chapter 4. Debt.
Section 13. Issuance.
The Treasurer may issue bonds, and take loans, only with the authorization of Congress.
Section 14. Report.
The Treasurer will issue an annual report to Congress detailing the exact amount of debt accrued by the United States.
