Congress · Laws

A resolution to extend the authority of the Federal Reserve banks to buy and sell certain obligations.

Public Law 95-534 · H.J.Res. 816 · 95th Congress · began in the House

Signed by Jimmy Carter (D) on Oct 27, 1978 · Finance and Financial Sector

Sponsor: Rep. Parren Mitchell (D-MD-7)

Cosponsors: None

Passage votesYeaNay

HouseRecorded vote: 278 yea, 77 nay278–77
SenateMethod not stated

Data notes

The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.

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Summary

The Congressional Research Service’s plain-language summary of what the law does.

Amends the Federal Reserve Act to extend the authority of Federal Reserve banks to purchase and sell obligations fully guaranteed by the United States until May 1, 1979.

Who voted for it

Every House member of the 95th Congress on the ideology compass. Highlighted: the 282 who voted yea on final passage. Faded: everyone else, including those who voted nay, did not vote, or had not yet taken office.

282 yea77 nay75 present or did not vote

Dimension 2

Economic left–right

More liberalMore conservative

Democrats who voted yea(227)

Rep. Parren MitchellD-MD-7
Rep. Louis StokesD-OH-21
Rep. Edward RoybalD-CA-25
Rep. Phillip BurtonD-CA-6
Rep. Bill ClayD-MO-1
Rep. Anthony BeilensonD-CA-23
Rep. Charlie RangelD-NY-19
Rep. Don EdwardsD-CA-10
Rep. James CormanD-CA-21
Rep. Frederick RichmondD-NY-14
Rep. Gus HawkinsD-CA-29
Rep. Richard BollingD-MO-5
Rep. Pete StarkD-CA-9
Rep. Shirley ChisholmD-NY-12
Rep. Ralph MetcalfeD-IL-1
Rep. Jonathan BinghamD-NY-22
Rep. John McFallD-CA-14
Rep. Frank ThompsonD-NJ-4
Rep. George BrownD-CA-36
Rep. Theodore WeissD-NY-20
Rep. Cardiss CollinsD-IL-7
Rep. George DanielsonD-CA-30
Rep. James OberstarD-MN-8
Rep. Henry GonzálezD-TX-20
Rep. Daniel RostenkowskiD-IL-8
Rep. William BurlisonD-MO-10
Rep. John SeiberlingD-OH-14
Rep. Paul SimonD-IL-24
Rep. William FordD-MI-15
Rep. Richard NolanD-MN-6
Rep. Robert KastenmeierD-WI-2
Rep. Barbara JordanD-TX-18
Rep. David BoniorD-MI-12
Rep. John BrademasD-IN-3
Rep. Stephen SolarzD-NY-13
Rep. Charles PriceD-IL-23
Rep. Edward PattenD-NJ-15
Rep. James HowardD-NJ-3
Rep. Harold JohnsonD-CA-1
Rep. Charles WilsonD-CA-31
Rep. Daniel AkakaD-HI-2
Rep. George MillerD-CA-7
Rep. James WrightD-TX-12
Rep. Michael HarringtonD-MA-6
Rep. Dante FascellD-FL-15
Rep. John DingellD-MI-16
Rep. William BrodheadD-MI-17
Rep. Henry ReussD-WI-5
Rep. Norman MinetaD-CA-13
Rep. Dave ObeyD-WI-7
Rep. Elizabeth HoltzmanD-NY-16
Rep. James ScheuerD-NY-11
Rep. Ozzie MyersD-PA-1
Rep. William MoorheadD-PA-14
Rep. Bruce VentoD-MN-4
Rep. Claude PepperD-FL-14
Rep. John FaryD-IL-5
Rep. Joseph AddabboD-NY-7
Rep. Clement ZablockiD-WI-4
Rep. John MurphyD-NY-17
Rep. Albert UllmanD-OR-2
Rep. Sidney YatesD-IL-9
Rep. Abner MikvaD-IL-10
Rep. Barbara MikulskiD-MD-3
Rep. Raymond LedererD-PA-3
Rep. Harold FordD-TN-8
Rep. Robert DuncanD-OR-3
Rep. Jerry PattersonD-CA-38
Rep. Harley StaggersD-WV-2
Rep. James BurkeD-MA-11
Rep. Lionel Van DeerlinD-CA-42
Rep. Morris UdallD-AZ-2
Rep. Frank EvansD-CO-3
Rep. Carl PerkinsD-KY-7
Rep. Ed MarkeyD-MA-7
Rep. Frederick RooneyD-PA-15
Rep. Frank AnnunzioD-IL-11
Rep. Richard OttingerD-NY-24
Rep. Helen MeynerD-NJ-13
Rep. Gerry StuddsD-MA-12
Rep. Thomas AshleyD-OH-9
Rep. Gene MaguireD-NJ-7
Rep. John MoakleyD-MA-9
Rep. Bill AlexanderD-AR-1
Rep. Fernand St. GermainD-RI-1
Rep. John BurtonD-CA-5
Rep. Leslie AspinD-WI-1
Rep. Morgan MurphyD-IL-2
Rep. Robert GiaimoD-CT-3
Rep. Lucien NedziD-MI-14
Rep. Robert DrinanD-MA-4
Rep. John JenretteD-SC-6
Rep. John MurthaD-PA-12
Rep. Nick RahallD-WV-4
Rep. William LehmanD-FL-13
Rep. Paul TsongasD-MA-5
Rep. Edward BeardD-RI-2
Rep. Thomas SteedD-OK-4
Rep. Jack BrooksD-TX-9
Rep. Thomas DowneyD-NY-2
Rep. Toby MoffettD-CT-6
Rep. Charles VanikD-OH-22
Rep. Charles RoseD-NC-7
Rep. Bernice SiskD-CA-15
Rep. Gillis LongD-LA-8
Rep. Neal SmithD-IA-4
Rep. James DelaneyD-NY-9
Rep. John YoungD-TX-14
Rep. Thomas FoleyD-WA-5
Rep. Leo RyanD-CA-11
Rep. Mike McCormackD-WA-4
Rep. William CotterD-CT-1
Rep. Edward PattisonD-NY-29
Rep. James BlanchardD-MI-18
Rep. Stanley LundineD-NY-39
Rep. Edward BolandD-MA-2
Rep. Lunsford PreyerD-NC-6
Rep. John SlackD-WV-3
Rep. Dale KildeeD-MI-7
Rep. Robert CornellD-WI-8
Rep. William NatcherD-KY-2
Rep. Cecil HeftelD-HI-1
Rep. Matthew McHughD-NY-27
Rep. Robert EdgarD-PA-7
Rep. Donald PeaseD-OH-13
Rep. Charles WilsonD-TX-2
Rep. Robert RoeD-NJ-8
Rep. Henry NowakD-NY-37
Rep. Joseph AmmermanD-PA-23
Rep. Joseph GaydosD-PA-20
Rep. Robert YoungD-MO-2
Rep. Herbert HarrisD-VA-8
Rep. Mario BiaggiD-NY-10
Rep. James FlorioD-NJ-1
Rep. Mark HannafordD-CA-34
Rep. James HanleyD-NY-32
Rep. Joseph FisherD-VA-10
Rep. Koln McKayD-UT-1
Rep. John KrebsD-CA-17
Rep. Michael BlouinD-IA-2
Rep. Albert GoreD-TN-4
Rep. Bob CarrD-MI-6
Rep. Adam BenjaminD-IN-1
Rep. Jerome TraxlerD-MI-8
Rep. Glenn AndersonD-CA-32
Rep. Kenneth HollandD-SC-5
Rep. Leo ZeferettiD-NY-15
Rep. Butler DerrickD-SC-3
Rep. David CornwellD-IN-8
Rep. Lester WolffD-NY-6
Rep. Timothy WirthD-CO-2
Rep. Dick GephardtD-MO-3
Rep. Ed JonesD-TN-7
Rep. Douglas ApplegateD-OH-18
Rep. Berkley BedellD-IA-6
Rep. James LloydD-CA-35
Rep. John LaFalceD-NY-36
Rep. Max BaucusD-MT-1
Rep. Clifford AllenD-TN-5
Rep. Lee HamiltonD-IN-9
Rep. Austin MurphyD-PA-22
Rep. Bo GinnD-GA-1
Rep. George MahonD-TX-19
Rep. Ronnie FlippoD-AL-5
Rep. Tom HarkinD-IA-5
Rep. Douglas WalgrenD-PA-18
Rep. Patricia SchroederD-CO-1
Rep. Tom BevillD-AL-4
Rep. Jake PickleD-TX-10
Rep. Ike SkeltonD-MO-4
Rep. Mendel DavisD-SC-1
Rep. Wyche FowlerD-GA-5
Rep. Martha KeysD-KS-2
Rep. Romano MazzoliD-KY-3
Rep. Joseph EarlyD-MA-3
Rep. Ed JenkinsD-GA-9
Rep. Walter FlowersD-AL-7
Rep. Don FuquaD-FL-2
Rep. Jack HightowerD-TX-13
Rep. Theodore RisenhooverD-OK-2
Rep. James MattoxD-TX-5
Rep. Jamie WhittenD-MS-1
Rep. Les AuCoinD-OR-1
Rep. Philip SharpD-IN-10
Rep. Paul RogersD-FL-11
Rep. Gus YatronD-PA-6
Rep. Harold VolkmerD-MO-9
Rep. Norman D’AmoursD-NH-1
Rep. Bill HefnerD-NC-8
Rep. Carroll HubbardD-KY-1
Rep. Floyd FithianD-IN-2
Rep. Robert SikesD-FL-1
Rep. Kika de la GarzaD-TX-15
Rep. Allen ErtelD-PA-17
Rep. Druie BarnardD-GA-10
Rep. Otis PikeD-NY-1
Rep. Richard WhiteD-TX-16
Rep. Martin RussoD-IL-3
Rep. James SantiniD-NV
Rep. William HughesD-NJ-2
Rep. Thomas LukenD-OH-2
Rep. James JonesD-OK-1
Rep. Marilyn LloydD-TN-3
Rep. Stephen NealD-NC-5
Rep. Sam GibbonsD-FL-7
Rep. Herbert RobertsD-TX-4
Rep. Jack BrinkleyD-GA-3
Rep. Elliott LevitasD-GA-4
Rep. Goodloe ByronD-MD-6
Rep. Andy IrelandD-FL-8
Rep. William ChappellD-FL-4
Rep. William NicholsD-AL-3
Rep. John BreauxD-LA-7
Rep. Wes WatkinsD-OK-3
Rep. Thomas HuckabyD-LA-5
Rep. Lawrence FountainD-NC-2
Rep. Charles BennettD-FL-3
Rep. Dale MilfordD-TX-24
Rep. Glenn EnglishD-OK-6
Rep. William PoageD-TX-11
Rep. Sam HallD-TX-1
Rep. Joseph WaggonnerD-LA-4
Rep. John FlyntD-GA-6
Rep. Sonny MontgomeryD-MS-3
Rep. Andrew JacobsD-IN-11
Rep. Ronald MottlD-OH-23
Rep. Richard IchordD-MO-8

Republicans who voted yea(55)

Rep. Charles WhalenR-OH-3
Rep. Bill GreenR-NY-18
Rep. Newton SteersR-MD-8
Rep. Silvio ConteR-MA-1
Rep. Pete McCloskeyR-CA-12
Rep. Stewart McKinneyR-CT-4
Rep. Frank HortonR-NY-34
Rep. Matthew RinaldoR-NJ-12
Rep. Harold HollenbeckR-NJ-9
Rep. Benjamin GilmanR-NY-26
Rep. Joseph McDadeR-PA-10
Rep. Marc MarksR-PA-24
Rep. Tim CarterR-KY-5
Rep. Millicent FenwickR-NJ-5
Rep. Thomas RailsbackR-IL-19
Rep. Edward MadiganR-IL-21
Rep. Joe SkubitzR-KS-5
Rep. Mark AndrewsR-ND
Rep. John AndersonR-IL-16
Rep. Joel PritchardR-WA-1
Rep. Jack EdwardsR-AL-1
Rep. Jim JeffordsR-VT
Rep. Hamilton FishR-NY-25
Rep. John StantonR-OH-11
Rep. Paul FindleyR-IL-20
Rep. Ronald SarasinR-CT-5
Rep. David EmeryR-ME-1
Rep. Harold SawyerR-MI-5
Rep. Elford CederbergR-MI-10
Rep. Ralph RegulaR-OH-16
Rep. Thomas EvansR-DE
Rep. Jim LeachR-IA-1
Rep. Robert McEwenR-NY-30
Rep. Chalmers WylieR-OH-15
Rep. Guy Vander JagtR-MI-9
Rep. Herbert BurkeR-FL-12
Rep. Clair BurgenerR-CA-43
Rep. Edward DerwinskiR-IL-4
Rep. Keith SebeliusR-KS-1
Rep. Robert CoughlinR-PA-13
Rep. Robert McCloryR-IL-13
Rep. James AbdnorR-SD-2
Rep. Trent LottR-MS-5
Rep. Willis GradisonR-OH-1
Rep. Thomas CorcoranR-IL-15
Rep. William BroomfieldR-MI-19
Rep. Thomas HagedornR-MN-2
Rep. William FrenzelR-MN-3
Rep. Arlan StangelandR-MN-7
Rep. David TreenR-LA-3
Rep. Gary MyersR-PA-25
Rep. Garry BrownR-MI-3
Rep. W. Bill YoungR-FL-6
Rep. William SteigerR-WI-6
Rep. Barber ConableR-NY-35

Data notes

The House’s recorded vote on the final version of the law (roll call 928 in Voteview), matched to the vote the record cites and checked against its totals. Positions are each member’s DW-NOMINATE score for that Congress, as on the Ideology page; left to right is more liberal to more conservative. Paired and announced yea votes count as yea. Lists follow the compass, most liberal first. A name links to a profile only for members of the current Congress. A law passed by voice vote or unanimous consent has no member list, and neither does a vote Voteview has not yet recorded.

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Committees

The committees the bill was sent to, and what each did with it.

Financial Services Committee · House · referred to, reported by
Banking, Housing, and Urban Affairs Committee · Senate · referred to

Data notes

A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.

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Timeline

From introduction to signing, newest first: the committees, the floor and the president. 12 actions.

Oct 27, 1978Became lawBecame law · Signed by President.
PresidentPresident · Public Law 95-534.
Oct 24, 1978PresidentPresident · Measure presented to President.
Oct 15, 1978PresidentPresident · Measure enrolled in Senate.
PresidentPresident · Measure enrolled in House.
Oct 14, 1978FloorFloor · Measure passed Senate.
May 2, 1978CommitteeCommittee · Referred to Senate Banking, Housing, and Urban Affairs Committee
May 1, 1978FloorFloor · Measure passed House, roll call #264 (278-77).House roll call 264
FloorFloor · Measure called up under motion to suspend rules and pass in House.
Apr 26, 1978CommitteeCommittee · Reported by House Financial Services Committee
Apr 3, 1978CommitteeCommittee · Referred to House Financial Services Committee
IntroducedIntroduced · Introduced in the House

Data notes

Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.

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Official record

The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.