LIBOR Bill Passed by Congress as Part of “Omnibus” Government Funding Bill

Thursday evening, the Senate passed the Consolidated Appropriations Act, 2022 – also known as the “omnibus” government funding bill. The omnibus included the bipartisan Senate LIBOR bill, the Economic Continuity and Stability Act, which was introduced by U.S. Senators Jon Tester (D-MT), Thom Tillis (R-NC), Jack Reed (D-RI), Mike Rounds (R-SD), Mark Warner (D-VA), Bill Hagerty (R-TN), as well as Senate Banking Committee Chairman Sherrod Brown (D-OH) and Ranking Member Pat Toomey (R-PA), last week and followed House passage of companion legislation in December by a vote of 415-9. SFA applauded the inclusion of the LIBOR bill in the omnibus, which passed the House Wednesday evening. The bill now heads to President Biden’s desk to be signed into law.

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Click here to read the LIBOR Bill.