What does Preamble of Fiscal Contingency Preparedness Act do?

This bill requires the Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, to examine the Federal Government's ability to respond to potential fiscal shocks. The bill's purpose is to examine the government's fiscal response capabilities and includes 'other purposes' not further specified in this section.

What does SHORT TITLE. of Fiscal Contingency Preparedness Act do?

This bill is formally titled the Fiscal Contingency Preparedness Act.

What does ANNUAL REPORT. of Fiscal Contingency Preparedness Act do?

This section amends Section 331(e) of title 31, United States Code to require an annual report examining fiscal risks and impacts. The Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, is responsible for conducting this examination. The examination must assess the fiscal risks and impacts of the Federal Government's response to various events, including economic recessions, energy crises, natural disasters, health crises, armed conflicts, cyber attacks, and financial crises. The report must determine the estimated short-term and long-term fiscal effects on the Federal Government resulting from these events. The Secretary and Director may consider historical instances and responses when conducting the examination. The amendment will take effect on the later of the first report submission or 180 days after enactment. The Government Accountability Office (GAO) will review the methodology and results of the fiscal analysis and publish a report periodically thereafter.

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Fiscal Contingency Preparedness Act

Last updated: 3/18/2026 · Introduced: 7/23/2025

Author: Ben Cline (R-VA)

TL;DR (AI)

This bill mandates an annual report assessing the fiscal risks and impacts of potential events like recessions, natural disasters, and cyberattacks on the Federal Government.
The report will estimate the short-term and long-term fiscal effects of government responses to these events, considering historical instances.
The Government Accountability Office (GAO) will review the methodology and results of the fiscal analysis outlined in the report.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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