legislation: 110-hr-7260
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
This data as json
| bill_id | congress | bill_type | bill_number | title | policy_area | introduced_date | latest_action_date | latest_action_text | origin_chamber | sponsor_name | sponsor_state | sponsor_party | sponsor_bioguide_id | cosponsor_count | summary_text | update_date | url |
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| 110-hr-7260 | 110 | hr | 7260 | Transparency in the Creation of Wealth Act of 2008 | Finance and Financial Sector | 2008-10-03 | 2008-10-03 | Referred to the House Committee on Financial Services. | House | Rep. Kucinich, Dennis J. [D-OH-10] | OH | D | K000336 | 0 | Transparency in the Creation of Wealth Act of 2008 - Directs the Board of Governors of the Federal Reserve System to: (1) devise, calculate, and publish a replacement for the discontinued M3 monetary statistic; (2) tabulate and publish a statistical description of the current distribution of wealth in the United States by quintile; (3) calculate and report to the Congress the total annual seigniorage interest income received by financial institutions as a result of their being allowed to create money in the form of the credit they extend above their own cash deposits or reserves before extending the loans; (4) calculate and publish semi-annually the loss or gain in economic output due to the deviation of the previous year's actual unemployment rate from the 4% level required by specified statute; (5) tabulate and publish data showing the amount of credit and the percentage of credit now being created and directed into specified transactions; (6) develop a market-based estimate of the value of residential, corporate and publicly owned land and report figures; and (7) make projections, in ten-year increments, of the net foreign debt, and estimate and report on the location of federal reserve notes, by country and type of holder. Directs the Comptroller General to conduct a full audit of the Federal Reserve System in every year before a presidential election year. Directs the Board to: (1) publish a quarterly and annual summary of total credit market debt; (2) release the statistics required to be compiled by this Act at a quarterly news conference; and (3) the survey of consumer finances and the total credit market debt report at an annual news conference. | 2019-11-15T20:56:29Z |