Fiscal Contingency Preparedness Act

This bill would require the Secretary of the Treasury, working with the Office of Management and Budget, to add a section to an existing annual federal financial report examining the fiscal risks and costs of the federal government responding to possible shocks. Examples of such shocks include a recession or depression, an energy crisis, a natural disaster, a pandemic, an armed conflict, a cyber attack, and a financial crisis. The examination must estimate short-term and long-term fiscal effects on the federal government. The Government Accountability Office would review the methods and results within one year of the first examination, publish its findings online, and send them to the House and Senate Budget Committees.

Full text and official record on Congress.gov

Sponsors

• Ben Cline Republican sponsor
• 22 cosponsors