Taxpayer Exposure Mitigation Act of 2017

Bill 115 hr 2246, also known as the Taxpayer Exposure Mitigation Act of 2017, aims to reduce the financial risk to taxpayers by limiting the exposure of the federal government to certain financial institutions. The bill specifically targets institutions that engage in risky financial practices that could potentially lead to a bailout funded by taxpayers.

The legislation requires these institutions to hold a minimum amount of capital to cover potential losses, as well as to develop plans for orderly resolution in the event of financial distress. This is intended to prevent taxpayers from having to foot the bill for a financial institution's failure.

Additionally, the bill establishes a process for the federal government to identify and designate certain financial institutions as "systemically important," meaning that their failure could have a significant impact on the overall economy. These institutions would be subject to stricter regulations and oversight to prevent a repeat of the 2008 financial crisis. Overall, the Taxpayer Exposure Mitigation Act of 2017 seeks to protect taxpayers from bearing the burden of financial institutions' risky behavior, while also promoting stability and accountability in the financial sector.