Summary of Bill H.R. 1424 - Economic Stimulus Relief Bill
(Formerly known as “The Genetic Information Nondiscrimination Act of 2008.”)
Title: “A bill to provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes.”
This bill has been signed by President George W. Bush and was passed into law as the Senate's October 2008 Economic Stimulus Relief Bill. However, the original bill was introduced in March 2007 and passed the House as the Genetic Information Nondiscrimination Act of 2008. According to GovTrak.us, “In October 2008, it was co-opted as the so-called "vehicle" to pass the relief bill with an amendment that rewrites the whole bill. The House's initial vehicle was H.R. 3997, but they failed to pass their amendment co-opting the bill.”
This bill (now law):
- Empowers the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers; and
- Amends the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes.
Sponsor: Rep. Patrick Kennedy (D-RI)
Cosponsors: There were 274 co-sponsors on this bill; the majority being Democratic House Representatives.
Related Bills: This bill is identical to H.R. 1367 (Status: Introduced).
Other Titles:
- Emergency Economic Stabilization Act of 2008
- Energy Improvement and Extension Act of 2008
- Heartland Disaster Tax Relief Act of 2008
- Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008
- Tax Extenders and Alternative Minimum Tax Relief Act of 2008
Latest Major Action: Introduced March 9, 2007; Reported by Committee July 18, 2007 (five subsequent amendments were proposed); Passed the House March 5, 2008; Passed in the Senate October 1, 2008; Signed by President George W. bush October 3, 2008.
