Sound Dollar and Economic Stimulus Act of 2008

To stimulate the economy and provide for a sound United States dollar by defining a value for the dollar, and for other purposes.

7/31/2008--Introduced.
Sound Dollar and Economic Stimulus Act of 2008 - Requires the Board of Governors of the Federal Reserve System to:
(1) make the value of the U.S. dollar equal to the market value of 0.05 of a troy ounce of gold; and
(2) maintain that value at this level.
Directs the Board to:
(1) conduct open market operations against an explicit target for the price of gold on the exchange operated by the Commodities Exchange, Inc. (COMEX) of the New York Mercantile Exchange, Inc.; and
(2) not perform such operations indirectly, as in the current practice of targeting the federal funds rate.
Requires the Board to use its banking and bank regulatory powers to maintain and promote stable and effective financial markets during and after the transition to a defined value for the U.S. dollar.
Entitles all entities that depreciate capital assets for tax purposes to 100% expensing of all capital investment for tax purposes in the year that the investment is made.
Requires the Congressional Budget Office (CBO), in addition to the scoring CBO will do of the tax changes provided in this Act, to calculate the impact on federal revenues on a present value basis.


... morehide bill summarySee Full Bill Text

Sponsor

• Rep. Ted Poe [R, TX-2]

Committees

• House Financial Services
• 2 more
  • House Ways and Means
  • House Budget
  close

Amendments

This bill has no amendments.

Amendments to H.R.6690

Number	Status	Purpose

Bill Status

Make a Bill Status Widget

	OpenCongress widgets allow you to display information about bills and issue areas on your own website or blog. First, select which bill or issue you want to track, then customize the appearance of the panel, and finally paste a simple chunk of HTML into your site. Now your community will have an easy, up-to-date way to track the status of important bills and issues in Congress.

Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
July 31, 2008

Show All Actions (5 actions)Hide Actions

All Bill Actions

• Jul 31, 2008: Referred to House Budget
• Jul 31, 2008: Referred to House Ways and Means
• Jul 31, 2008: Referred to House Financial Services
• Jul 31, 2008: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and the Budget, 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 on Jul 31, 2008.

---

Users tracking H.R.6690 (3) are also tracking:

Show More User Statistics... Hide User Statistics

In the News

We are not currently finding any news articles on this topic using our daily automated search of Google News. However, if you know of a relevant news article to display here, OpenCongress site editors have the ability to add it manually. Simply e-mail us the web address of this page and the web address of your suggested news article: We'll post relevant links as quickly as possible. Also, if this topic is important to you, you could write a letter to the editor -- if a news article refers this specific topic by name, a link to that news article is likely to appear here soon.

Information made available by:

Blog Coverage

November 25, 2008 td5howard :: РТС, похоже, завершает коррекцию ....

On July 31, I introduced H.R. 6690, the "Sound Dollar and Economic Stimulus Act of 2008". It is vital that this bill become law..." http://www.realclearmarkets.com/articles/2008/09/congress_must_stabilize_the_do.html ...

Was this article useful? Yes or No

Source: td5howard

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

November 19, 2008 BLOG.LATINOREPUBLICAN.COM: GM needs to file Chapter 11

Pass H.R. 6690, a bill that would stabilize the dollar at a gold price of $500/oz. This would restore sanity to the financial markets and stabilize gasoline prices in the $2.00 - $2.50/gallon range. ...

Was this article useful? Yes or No

Source: BLOG.LATINOREPUBLICAN.COM

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

November 17, 2008 GM needs to file Chapter 11

Pass HR 6690, a bill that would stabilize the dollar at a gold price of $500/oz. This would restore sanity to the financial markets and stabilize gasoline prices in the $2.00 - $2.50/gallon range. 2. Pass HR 25 to implement the FairTax. ...

Was this article useful? Yes or No

Source: BLOG.LATINOREPUBLICAN.COM

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

40 more posts...
See most useful blog posts

Information made available by: