House vote: H.R. 4616 // December 8, 2021Needed two-thirds to pass
Adjustable Interest Rate (LIBOR) Act of 2021
Sponsor: BRAD SHERMAN (D-CA)
This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain payments or obligations.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 2.5% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 415 | 95.3% |
| Nay | Lost | 9 | 2.2% |
| Not represented on this question | No position taken | 0 | 2.5% |