To repeal the Troubled Asset Relief Program and to prevent future bailouts.

Referred to the House Committee on Financial Services.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Jan 5, 2011

Repeals all but specified provisions (among them the temporary increase to $250,000 in deposit and share insurance coverage) of title I (Troubled Asset Relief Program) (TARP) of the Emergency Economic Stabilization Act of 2008. Restores or revives the provisions of law amended or repealed by such title as if it had not been enacted.

Directs the Secretary of the Treasury to: (1) maintain oversight of all outstanding funds received by an entity under TARP until they are repaid; and (2) dispose of all assets received by the Treasury under TARP in a manner so as to maximize the overall return from them.

Declares that Congress finds that the federal government should not: (1) provide TARP-like programs or other bailouts for entities in the private sector; or (2) act as a creditor of last resort to the private sector.

Prohibits Congress from making any law providing a bailout for one or more entities in the private sector.

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People & committees

Who introduced it

Rep. Woodall, Rob [R-GA-7] · R–GA

Committees

Financial Services Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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Jan 5, 2011
Referred to the House Committee on Financial Services.
Jan 5, 2011
Introduced in House
Jan 5, 2011
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Jan 5, 2011 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.

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Objective

Analyze H.R.189 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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Discuss H.R.189, 112th Congress: To repeal the Troubled Asset Relief Program and to prevent future bailouts.

Official record: https://www.congress.gov/bill/112th-congress/house-bill/189

Text version to examine: Introduced in House · 2011-01-05.

Official full text: https://www.congress.gov/112/bills/hr189/BILLS-112hr189ih.htm

Imported record last updated by the source: 2025-01-03T01:33:03Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.189 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.

Fairness and public impact

Progressive lens

Examine H.R.189 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.189, 112th Congress: To repeal the Troubled Asset Relief Program and to prevent future bailouts.

Official record: https://www.congress.gov/bill/112th-congress/house-bill/189

Text version to examine: Introduced in House · 2011-01-05.

Official full text: https://www.congress.gov/112/bills/hr189/BILLS-112hr189ih.htm

Imported record last updated by the source: 2025-01-03T01:33:03Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.189 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.189 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.189, 112th Congress: To repeal the Troubled Asset Relief Program and to prevent future bailouts.

Official record: https://www.congress.gov/bill/112th-congress/house-bill/189

Text version to examine: Introduced in House · 2011-01-05.

Official full text: https://www.congress.gov/112/bills/hr189/BILLS-112hr189ih.htm

Imported record last updated by the source: 2025-01-03T01:33:03Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.189 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.189 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.189, 112th Congress: To repeal the Troubled Asset Relief Program and to prevent future bailouts.

Official record: https://www.congress.gov/bill/112th-congress/house-bill/189

Text version to examine: Introduced in House · 2011-01-05.

Official full text: https://www.congress.gov/112/bills/hr189/BILLS-112hr189ih.htm

Imported record last updated by the source: 2025-01-03T01:33:03Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.189 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.