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Federal Rainy Day Fund: Controlling Emergency Spending

This bill establishes a special fund to finance urgent needs, such as natural disasters, instead of using general budget funds. The goal is to improve government financial management and prevent uncontrolled debt accumulation during crises. Citizens may experience greater public financial stability in the face of unforeseen events.
Key points
A Federal Rainy Day Fund is established, to be funded annually with 2% of the previous year's non-emergency discretionary spending.
Funds can only be used for emergencies, such as saving lives and property during catastrophes.
Emergency spending will first be covered by this fund before other budget funds are utilized.
New rules for controlling emergency spending in the Senate are introduced, making it harder to allocate these funds for other purposes.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_3008
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2021-10-20
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to establish the Federal Rainy Day Fund to control emergency spending.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3008.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-10-20.

What are the main provisions?

Key points include:

  • A Federal Rainy Day Fund is established, to be funded annually with 2% of the previous year's non-emergency discretionary spending.
  • Funds can only be used for emergencies, such as saving lives and property during catastrophes.
  • Emergency spending will first be covered by this fund before other budget funds are utilized.
  • New rules for controlling emergency spending in the Senate are introduced, making it harder to allocate these funds for other purposes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 149.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy Public Investments