S. 355 (109th): Foreign Debt Ceiling Act of 2005

Introduced:
Feb 10, 2005 (109th Congress, 2005–2006)
Sponsor:
Sen. Byron Dorgan [D-ND]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on February 10, 2005, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 10, 2005
Referred to Committee Feb 10, 2005
Cosponsors
1 cosponsors (1D) (show)
Committees

Senate Foreign Relations

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to require Congress to impose limits on United States foreign debt.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Feb 10, 2005.
5 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/10/2005--Introduced.
Foreign Debt Ceiling Act of 2005 - Requires the U.S. Trade Representative (USTR), every three months, to determine if:
(1) the net U.S. foreign debt for the preceding 12-month period is more than 25 percent of the U.S. Gross Domestic Product (GDP) for the same period; or
(2) the U.S. trade deficit for such period is more than five percent of the GDP for the same period.
Requires the USTR, whenever an affirmative determination is made, to:
(1) convene an emergency meeting of the Trade Policy Review Group to develop a plan of action to reduce the U.S. trade deficit; and
(2) report to Congress on the details of the plan.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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