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Fiscal Crisis Preparedness: US Government Reports

This act requires the US government to regularly assess its ability to respond to potential financial crises, such as recessions, natural disasters, or pandemics. The goal is to better prepare the country for unforeseen events, which can help protect economic stability and citizens' finances during difficult times.
Key points
The US government will annually analyze the financial risks posed by various crises (e.g., recessions, pandemics, cyberattacks) and their impact on the national budget.
Reports will include short-term and long-term financial impact estimates for the government in case such events occur.
An independent government agency (GAO) will review the reliability of these analyses and publish its findings, increasing government transparency.
article Official text account_balance Process page
Introduced
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Additional Information
Print number: 119_S_2492
Sponsor: Sen. Warner, Mark R. [D-VA]
Process start date: 2025-07-29
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Fiscal Contingency Preparedness Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2492.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-29.

What are the main provisions?

Key points include:

  • The US government will annually analyze the financial risks posed by various crises (e.g., recessions, pandemics, cyberattacks) and their impact on the national budget.
  • Reports will include short-term and long-term financial impact estimates for the government in case such events occur.
  • An independent government agency (GAO) will review the reliability of these analyses and publish its findings, increasing government transparency.
What is the specific legal status?

The current status is Introduced.

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. Warner, Mark R. [D-VA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Public Investments Security