Congress · Laws

Cash Discount Act

Public Law 97-25 · H.R. 31 · 97th Congress · began in the House

Signed by Ronald Reagan (R) on Jul 27, 1981 · Finance and Financial Sector

Sponsor: Rep. Frank Annunzio (D-IL-11)

Cosponsors (18): Rep. Thomas Evans, Rep. Chalmers Wylie,

Passage votesYeaNay

HouseRecorded vote: 398 yea, 9 nay398–9
SenateVoice vote

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.

Cash Discount Act -Title I: Cash Discounts - Amends the Truth in Lending Act to stipulate that any discount (currently, discounts up to five percent) offered by sellers from the "regular price" to induce payment by cash or other means not involving open-end credit plans or credit cards shall not constitute a finance charge. Voids any rule of the Board of Governors of the Federal Reserve System promulgated under the current provision.

Title II: Ban on Credit Card Surcharges - Extends the termination of the prohibition against credit card surcharges from February 27, 1981, to February 27, 1984.

Directs the Board of Governors of the Federal Reserve System to report to the Congressional banking committees within two years of enactment on the effect of charge card transactions upon card issuers, merchants, and consumers.

Title III: Miscellaneous - Makes a technical amendment providing that creditors who elect to comply with the Truth in Lending Simplification Act of April 1, 1981, are subject to the amended civil liability provisions of such Act.

Permits any national banking association which, on the date of enactment, holds title to real estate which it carried on its books at a nominal rate on December 31, 1979, to continue to hold such real estate until December 31, 1982, if the earnings from such real estate are disclosed separately in its financial statements.

Amends the Public Health Service Act to authorize the appointment of a Surgeon General who is 64 years of age or older.

Who voted for it

Every House member of the 97th Congress on the ideology compass. Highlighted: the 398 who voted yea on final passage. Faded: everyone else, including those who voted nay, did not vote, or had not yet taken office.

398 yea9 nay24 present or did not vote

Dimension 2

Economic left–right

More liberalMore conservative

Democrats who voted yea(213)

Rep. Bill ClayD-MO-1
Rep. Martin SaboD-MN-5
Rep. Tom HarkinD-IA-5
Rep. Patricia SchroederD-CO-1
Rep. Ronald DellumsD-CA-8
Rep. Henry GonzálezD-TX-20
Rep. George CrockettD-MI-13
Rep. Mickey LelandD-TX-18
Rep. Shirley ChisholmD-NY-12
Rep. Mervyn DymallyD-CA-31
Rep. Louis StokesD-OH-21
Rep. Frederick RichmondD-NY-14
Rep. John BurtonD-CA-5
Rep. Edward RoybalD-CA-25
Rep. Harold FordD-TN-8
Rep. John SeiberlingD-OH-14
Rep. Robert KastenmeierD-WI-2
Rep. Don EdwardsD-CA-10
Rep. George BrownD-CA-36
Rep. Anthony BeilensonD-CA-23
Rep. James OberstarD-MN-8
Rep. Cardiss CollinsD-IL-7
Rep. Pete StarkD-CA-9
Rep. William BrodheadD-MI-17
Rep. David BoniorD-MI-12
Rep. Peter RodinoD-NJ-10
Rep. Julian DixonD-CA-28
Rep. Victor FazioD-CA-4
Rep. Harold WashingtonD-IL-1
Rep. Jonathan BinghamD-NY-22
Rep. George MillerD-CA-7
Rep. Paul SimonD-IL-24
Rep. William LehmanD-FL-13
Rep. John DingellD-MI-16
Rep. Henry ReussD-WI-5
Rep. James ScheuerD-NY-11
Rep. Daniel AkakaD-HI-2
Rep. Richard OttingerD-NY-24
Rep. Robert MatsuiD-CA-3
Rep. William CoyneD-PA-14
Rep. Henry WaxmanD-CA-24
Rep. Dale KildeeD-MI-7
Rep. Nick RahallD-WV-4
Rep. Claude PepperD-FL-14
Rep. John WilliamsD-MT-1
Rep. Michael LowryD-WA-7
Rep. James HowardD-NJ-3
Rep. Sidney YatesD-IL-9
Rep. John MoakleyD-MA-9
Rep. Thomas DowneyD-NY-2
Rep. Bruce VentoD-MN-4
Rep. Dave ObeyD-WI-7
Rep. Robert EdgarD-PA-7
Rep. Joseph AddabboD-NY-7
Rep. Norman MinetaD-CA-13
Rep. Albert GoreD-TN-4
Rep. Bernard DwyerD-NJ-15
Rep. Raymond KogovsekD-CO-3
Rep. Ed MarkeyD-MA-7
Rep. Robert MollohanD-WV-1
Rep. Geraldine FerraroD-NY-9
Rep. Steny HoyerD-MD-5
Rep. Donald BaileyD-PA-21
Rep. Joseph EarlyD-MA-3
Rep. Anthony CoelhoD-CA-15
Rep. Martin FrostD-TX-24
Rep. Charles PriceD-IL-23
Rep. Frank GuariniD-NJ-14
Rep. Thomas FoleyD-WA-5
Rep. Dante FascellD-FL-15
Rep. Mary OakarD-OH-20
Rep. James WrightD-TX-12
Rep. Morris UdallD-AZ-2
Rep. Matthew McHughD-NY-27
Rep. Mario BiaggiD-NY-10
Rep. Frank AnnunzioD-IL-11
Rep. Nicholas MavroulesD-MA-6
Rep. Carl PerkinsD-KY-7
Rep. James MattoxD-TX-5
Rep. Adam BenjaminD-IN-1
Rep. Dennis HertelD-MI-14
Rep. James WeaverD-OR-4
Rep. Ron WydenD-OR-3
Rep. Peter PeyserD-NY-23
Rep. Joseph MinishD-NJ-11
Rep. Gillis LongD-LA-8
Rep. Jack BrooksD-TX-9
Rep. John MurthaD-PA-12
Rep. William RatchfordD-CT-5
Rep. James BlanchardD-MI-18
Rep. Bill AlexanderD-AR-1
Rep. James FlorioD-NJ-1
Rep. Henry NowakD-NY-37
Rep. Leo ZeferettiD-NY-15
Rep. Lindy BoggsD-LA-2
Rep. Clement ZablockiD-WI-4
Rep. Jerome TraxlerD-MI-8
Rep. Les AuCoinD-OR-1
Rep. Leslie AspinD-WI-1
Rep. Daniel RostenkowskiD-IL-8
Rep. David EvansD-IN-6
Rep. Norm DicksD-WA-6
Rep. Robert RoeD-NJ-8
Rep. Allan SwiftD-WA-2
Rep. Don BonkerD-WA-3
Rep. Fernand St. GermainD-RI-1
Rep. Dennis EckartD-OH-22
Rep. Donald PeaseD-OH-13
Rep. Timothy WirthD-CO-2
Rep. Joseph GaydosD-PA-20
Rep. Edward BolandD-MA-2
Rep. Walter JonesD-NC-1
Rep. Jerry PattersonD-CA-38
Rep. Sam GejdensonD-CT-2
Rep. Stanley LundineD-NY-39
Rep. Robert ShamanskyD-OH-12
Rep. Charles RoseD-NC-7
Rep. Leon PanettaD-CA-16
Rep. Michael SynarD-OK-2
Rep. Cecil HeftelD-HI-1
Rep. Neal SmithD-IA-4
Rep. Byron DorganD-ND
Rep. Tom BevillD-AL-4
Rep. Donald AlbostaD-MI-10
Rep. Wyche FowlerD-GA-5
Rep. Kika de la GarzaD-TX-15
Rep. David BowenD-MS-2
Rep. Allen ErtelD-PA-17
Rep. William NatcherD-KY-2
Rep. Tom DaschleD-SD-1
Rep. Dick GephardtD-MO-3
Rep. Michael BarnesD-MD-8
Rep. Douglas WalgrenD-PA-18
Rep. Berkley BedellD-IA-6
Rep. Wes WatkinsD-OK-3
Rep. Ronnie FlippoD-AL-5
Rep. Clarence LongD-MD-2
Rep. Jamie WhittenD-MS-1
Rep. Floyd FithianD-IN-2
Rep. Robert YoungD-MO-2
Rep. William BonerD-TN-5
Rep. Beryl AnthonyD-AR-4
Rep. Ed JonesD-TN-7
Rep. James JonesD-OK-1
Rep. Bo GinnD-GA-1
Rep. Butler DerrickD-SC-3
Rep. Ike AndrewsD-NC-4
Rep. Tony HallD-OH-3
Rep. Abraham KazenD-TX-23
Rep. Samuel StrattonD-NY-28
Rep. Martin RussoD-IL-3
Rep. Marilyn LloydD-TN-3
Rep. Bill HefnerD-NC-8
Rep. Norman D’AmoursD-NH-1
Rep. Harold VolkmerD-MO-9
Rep. Glenn AndersonD-CA-32
Rep. Gus YatronD-PA-6
Rep. Royden DysonD-MD-1
Rep. Daniel MicaD-FL-11
Rep. Kenneth HollandD-SC-5
Rep. Thomas LukenD-OH-2
Rep. Romano MazzoliD-KY-3
Rep. Don FuquaD-FL-2
Rep. Austin MurphyD-PA-22
Rep. William HughesD-NJ-2
Rep. Charles HatcherD-GA-2
Rep. Charles WilsonD-TX-2
Rep. Daniel GlickmanD-KS-4
Rep. Stephen NealD-NC-5
Rep. Charles WhitleyD-NC-3
Rep. Bill NelsonD-FL-9
Rep. Philip SharpD-IN-10
Rep. Jack BrinkleyD-GA-3
Rep. Lee HamiltonD-IN-9
Rep. William PatmanD-TX-14
Rep. Carroll HubbardD-KY-1
Rep. Sam GibbonsD-FL-7
Rep. Ike SkeltonD-MO-4
Rep. Jake PickleD-TX-10
Rep. Andrew JacobsD-IN-11
Rep. Douglas ApplegateD-OH-18
Rep. Earl HuttoD-FL-1
Rep. William ChappellD-FL-4
Rep. David McCurdyD-OK-4
Rep. Richard WhiteD-TX-16
Rep. Ed JenkinsD-GA-9
Rep. Billy EvansD-GA-8
Rep. Elliott LevitasD-GA-4
Rep. Jack HightowerD-TX-13
Rep. Charles BennettD-FL-3
Rep. William NicholsD-AL-3
Rep. Glenn EnglishD-OK-6
Rep. Druie BarnardD-GA-10
Rep. Kent HanceD-TX-19
Rep. Beverly ByronD-MD-6
Rep. Lawrence FountainD-NC-2
Rep. John BreauxD-LA-7
Rep. Ronald MottlD-OH-23
Rep. James SantiniD-NV
Rep. Thomas HuckabyD-LA-5
Rep. Ralph HallD-TX-4
Rep. Sam HallD-TX-1
Rep. Billy TauzinD-LA-3
Rep. Andy IrelandD-FL-8
Rep. Richard ShelbyD-AL-7
Rep. Sonny MontgomeryD-MS-3
Rep. James LeathD-TX-11
Rep. Charlie StenholmD-TX-17
Rep. Dan DanielD-VA-5
Rep. Buddy RoemerD-LA-4
Rep. Phil GrammD-TX-6
Rep. Robert StumpD-AZ-3
Rep. Lawrence McDonaldD-GA-7

Republicans who voted yea(184)

Rep. Harold HollenbeckR-NJ-9
Rep. Claudine SchneiderR-RI-2
Rep. Bill GreenR-NY-18
Rep. Matthew RinaldoR-NJ-12
Rep. Jim JeffordsR-VT
Rep. Lawrence DeNardisR-CT-3
Rep. Margaret HecklerR-MA-10
Rep. Silvio ConteR-MA-1
Rep. Marc MarksR-PA-24
Rep. Charles DoughertyR-PA-4
Rep. Stewart McKinneyR-CT-4
Rep. Benjamin GilmanR-NY-26
Rep. Robert DavisR-MI-11
Rep. Frank HortonR-NY-34
Rep. Joseph McDadeR-PA-10
Rep. Jim LeachR-IA-1
Rep. Hamilton FishR-NY-25
Rep. Chris SmithR-NJ-4
Rep. Carl PursellR-MI-2
Rep. Eugene AtkinsonR-PA-25
Rep. Joel PritchardR-WA-1
Rep. Thomas RailsbackR-IL-19
Rep. Donald MitchellR-NY-31
Rep. Huey DeckardR-IN-8
Rep. James NelliganR-PA-11
Rep. George O’BrienR-IL-17
Rep. John DuncanR-TN-2
Rep. William ClingerR-PA-23
Rep. Arlen ErdahlR-MN-1
Rep. Millicent FenwickR-NJ-5
Rep. David EmeryR-ME-1
Rep. Donald ClausenR-CA-2
Rep. Jack EdwardsR-AL-1
Rep. Thomas EvansR-DE
Rep. Norman LentR-NY-4
Rep. Guy MolinariR-NY-17
Rep. Paul FindleyR-IL-20
Rep. Pete McCloskeyR-CA-12
Rep. Ralph RegulaR-OH-16
Rep. John NapierR-SC-6
Rep. Marge RoukemaR-NJ-7
Rep. Frank WolfR-VA-10
Rep. Thomas TaukeR-IA-2
Rep. James DunnR-MI-6
Rep. John HammerschmidtR-AR-3
Rep. Stanford ParrisR-VA-8
Rep. Earl ColemanR-MO-6
Rep. John PorterR-IL-10
Rep. James QuillenR-TN-1
Rep. John RhodesR-AZ-1
Rep. John StantonR-OH-11
Rep. Chalmers WylieR-OH-15
Rep. David MarriottR-UT-2
Rep. Hal RogersR-KY-5
Rep. Elwood HillisR-IN-5
Rep. Sidney MorrisonR-WA-4
Rep. James CourterR-NJ-13
Rep. Raymond McGrathR-NY-5
Rep. James CoyneR-PA-8
Rep. Doug BereuterR-NE-1
Rep. Paul TribleR-VA-1
Rep. Marion SnyderR-KY-4
Rep. George WhitehurstR-VA-2
Rep. Lynn MartinR-IL-16
Rep. Bobbi FiedlerR-CA-21
Rep. Don YoungR-AK
Rep. Robert CoughlinR-PA-13
Rep. William CarneyR-NY-1
Rep. Larry HopkinsR-KY-6
Rep. Skip BafalisR-FL-10
Rep. Edward WeberR-OH-9
Rep. George WortleyR-NY-32
Rep. W. Bill YoungR-FL-6
Rep. Henry HydeR-IL-6
Rep. Charles PashayanR-CA-17
Rep. David MartinR-NY-30
Rep. Robin BeardR-TN-6
Rep. John MyersR-IN-7
Rep. Robert McCloryR-IL-13
Rep. Edward MadiganR-IL-21
Rep. Toby RothR-WI-8
Rep. Cleveland BenedictR-WV-2
Rep. Larry WinnR-KS-3
Rep. Edwin BethuneR-AR-2
Rep. Steven GundersonR-WI-3
Rep. Floyd SpenceR-SC-2
Rep. Newton GingrichR-GA-6
Rep. Thomas EvansR-IA-3
Rep. Manuel LujánR-NM-1
Rep. Virginia SmithR-NE-3
Rep. William BroomfieldR-MI-19
Rep. Carroll CampbellR-SC-4
Rep. Robert LivingstonR-LA-1
Rep. Willis GradisonR-OH-1
Rep. William MooreR-LA-6
Rep. Bob McEwenR-OH-6
Rep. Ronald MarleneeR-MT-2
Rep. Gene TaylorR-MO-7
Rep. Arlan StangelandR-MN-7
Rep. Tom PetriR-WI-6
Rep. Jack KempR-NY-38
Rep. Richard SchulzeR-PA-5
Rep. Clay ShawR-FL-12
Rep. Hal DaubR-NE-2
Rep. Robert WhittakerR-KS-5
Rep. John ErlenbornR-IL-14
Rep. William LoweryR-CA-41
Rep. Thomas CorcoranR-IL-15
Rep. David StatonR-WV-3
Rep. Edwin ForsytheR-NJ-6
Rep. Donald RitterR-PA-15
Rep. Duncan HunterR-CA-42
Rep. James RobinsonR-VA-7
Rep. Trent LottR-MS-5
Rep. Gregory CarmanR-NY-3
Rep. Robert MichelR-IL-18
Rep. Bill McCollumR-FL-5
Rep. Gary LeeR-NY-33
Rep. Thomas HagedornR-MN-2
Rep. Eugene ChappieR-CA-1
Rep. Bud ShusterR-PA-9
Rep. John LeBoutillierR-NY-6
Rep. Pat RobertsR-KS-1
Rep. Robert DanielR-VA-4
Rep. Clair BurgenerR-CA-43
Rep. James MartinR-NC-9
Rep. Tom BlileyR-VA-3
Rep. Bill ThomasR-CA-18
Rep. Kenneth KramerR-CO-5
Rep. Robert LagomarsinoR-CA-19
Rep. Eldon RuddR-AZ-4
Rep. William HendonR-NC-11
Rep. Jerry LewisR-CA-37
Rep. Barry GoldwaterR-CA-20
Rep. Daniel CoatsR-IN-4
Rep. Barber ConableR-NY-35
Rep. Thomas LoefflerR-TX-21
Rep. Mark SiljanderR-MI-4
Rep. William FrenzelR-MN-3
Rep. James BroyhillR-NC-10
Rep. William GoodlingR-PA-19
Rep. Mickey EdwardsR-OK-5
Rep. Marjorie HoltR-MD-4
Rep. Robert DornanR-CA-27
Rep. Clint RobertsR-SD-2
Rep. Judd GreggR-NH-2
Rep. Thomas KindnessR-OH-8
Rep. Delbert LattaR-OH-5
Rep. Edward DerwinskiR-IL-4
Rep. Wayne GrishamR-CA-33
Rep. John WeberR-MN-6
Rep. Carlos MoorheadR-CA-22
Rep. John HilerR-IN-3
Rep. Manley ButlerR-VA-6
Rep. Richard CheneyR-WY
Rep. James SensenbrennerR-WI-9
Rep. Albert SmithR-AL-6
Rep. Wendell BaileyR-MO-8
Rep. Thomas HartnettR-SC-1
Rep. James HansenR-UT-1
Rep. Bill EmersonR-MO-10
Rep. Clarence MillerR-OH-10
Rep. William DickinsonR-AL-2
Rep. Robert BadhamR-CA-40
Rep. Daniel LungrenR-CA-34
Rep. John AshbrookR-OH-17
Rep. Larry CraigR-ID-1
Rep. Bill ArcherR-TX-7
Rep. Gerald SolomonR-NY-29
Rep. Norman ShumwayR-CA-14
Rep. Hank BrownR-CO-4
Rep. Jack FieldsR-TX-8
Rep. John RousselotR-CA-26
Rep. Robert WalkerR-PA-16
Rep. George HansenR-ID-2
Rep. William DannemeyerR-CA-39
Rep. James CollinsR-TX-3
Rep. David DreierR-CA-35
Rep. James JeffriesR-KS-2
Rep. Denny SmithR-OR-2
Rep. Phil CraneR-IL-12
Rep. Daniel CraneR-IL-22
Rep. Walter JohnstonR-NC-6
Rep. Ron PaulR-TX-22

Data notes

The House’s recorded vote on the final version of the law (roll call 90 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. 1 yea vote was cast by members of neither major party and is highlighted on the compass but not listed. 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 · markup by, referred toSubcommittee: Consumer Affairs and Coinage Subcommittee

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. 29 actions.

Jul 27, 1981Became lawBecame law · Became Public Law No: 97-25.
Became lawBecame law · Signed by President.
Jul 16, 1981PresidentPresident · Presented to President.
Jul 14, 1981Resolving differencesResolving differences · Senate agreed to conference report by Voice Vote.
Resolving differencesResolving differences · Conference report agreed to in Senate: Senate agreed to conference report by Voice Vote.
Resolving differencesResolving differences · Conference report considered in Senate.
Jun 24, 1981Resolving differencesResolving differences · House Agreed to Conference Report by Yea-Nay Vote: 398 - 9 (Record Vote No: 98).House roll call 98
Resolving differencesResolving differences · Conference report agreed to in House: House Agreed to Conference Report by Yea-Nay Vote: 398 - 9 (Record Vote No: 98).House roll call 98
Jun 23, 1981Resolving differencesResolving differences · Conference Report 97-159 Filed in House.
Resolving differencesResolving differences · Conference report filed: Conference Report 97-159 Filed in House.
Jun 17, 1981Resolving differencesResolving differences · Conference held on Section 303 of Senate Amendment No. 10.
Jun 8, 1981Resolving differencesResolving differences · Conference held on Sec. 303 of Senate Amendment No. 10.
May 20, 1981Resolving differencesResolving differences · House Conferees Further Instructed by Voice Vote.
May 12, 1981Resolving differencesResolving differences · Conference held on Section 303 of Senate Amendment No. 10.
Apr 29, 1981Resolving differencesResolving differences · Conferees agreed to file conference report with the exception of Section 303 of Senate Amendment 10.
Resolving differencesResolving differences · Conference committee actions: Conferees agreed to file conference report with the exception of Section 303 of Senate Amendment 10.
Resolving differencesResolving differences · Senate agreed to request for conference. Appointed conferees. Garn; Tower; Chafee; Williams; Dodd; Hatch; Quayle; Hawkins; Kennedy; Metzenbaum. Solely for the consideration of all provisions of the Senate amendment except section 303, and modifications thereof committed to confe…
FloorFloor · Senate insists on its amendments by Voice Vote.
Apr 8, 1981Resolving differencesResolving differences · House Requested a Conference and Speaker Appointed Conferees: St Germain, Annunzio, Gonzalez, Minish, Stanton, Evans (DE), Wylie, Dingell, Waxman, Scheuer, Broyhill, Madigan.
Mar 12, 1981FloorFloor · Passed Senate in lieu of S. 414 with an amendment by Voice Vote.
Feb 26, 1981FloorFloor · Received in the Senate held at the desk by unanimous consent. Pursuant to the order of February 26, 1981.
Feb 24, 1981FloorFloor · Passed House (Amended) by Yea-Nay Vote: 372 - 4 (Record Vote No: 11).House roll call 11
CommitteeCommittee · Markup by House Financial Services Committee
Feb 5, 1981CommitteeCommittee · Reported by Consumer Affairs and Coinage Subcommittee of the House Financial Services Committee
CommitteeCommittee · Markup by Consumer Affairs and Coinage Subcommittee of the House Financial Services Committee
CommitteeCommittee · Hearings by Consumer Affairs and Coinage Subcommittee of the House Financial Services Committee
Jan 30, 1981CommitteeCommittee · Referred to Consumer Affairs and Coinage Subcommittee of the House Financial Services Committee
Jan 5, 1981CommitteeCommittee · 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.