PlainBillCongress, translated.Legislation. Context. Public interest.Referred to House Financial Services
Congressional Research Service
Version 00 · Introduced in House · Jan 6, 2009
Amends the Internal Revenue Code to: (1) reduce to 0% the employment tax on employers, employees, and self-employed individuals in the first full two-month period after the enactment of this Act; and (2) exclude from gross income any wage and self-employment income earned during the same period .
Amends the Emergency Economic Stabilization Act of 2008 to repeal procedures for authorizing the Secretary of the Treasury to obligate additional amounts under the Troubled Asset Relief Program (TARP).
Requires the Secretary to: (1) estimate the impact of this Act on the income and balances of the social security trust funds; and (2) transfer amounts from the Treasury to such trust funds if there is any reduction in the income and balances of such trust funds resulting from this Act.
Terminates the authority of the Secretary under the Emergency Economic Stabilization Act of 2008 to purchase troubled assets or any preferred or other stock or equity in any financial institution.
People & committees
Rep. Gohmert, Louie [R-TX-1] · R–TX
Legislative record
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Referred to House Financial Services
Referred to House Ways and Means
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Feb 7, 2024. Consult Congress.gov for the current record.
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Analyze H.R.143 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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