Foreign Debt Ceiling Act of 2005

Summary

Foreign Debt Ceiling Act of 2005 - Requires the U.S. Trade Representative (USTR), every three months, to determine if: (1) the net U.S. foreign debt for the preceding 12-month period is more than 25 percent of the U.S. Gross Domestic Product (GDP) for the same period; or (2) the U.S. trade deficit for such period is more than five percent of the GDP for the same period. Requires the USTR, whenever an affirmative determination is made, to: (1) convene an emergency meeting of the Trade Policy Review Group to develop a plan of action to reduce the U.S. trade deficit; and (2) report to Congress on the details of the plan.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 February 2005

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 February 2005

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• Introduced in Senate

  summary · EN · 10 February 2005

  Open at official source

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