Congress·In Committee·H.R. 4642

Budget Planning: Preparing for Economic Emergencies

Fiscal Contingency Preparedness Act

Legislative Progress

House

Senate

President

Law

The Fiscal Contingency Preparedness Act would require the Treasury Department to study how the U.S. government would handle the costs of major national emergencies. This includes looking at the financial impact of things like a deep recession, a global pandemic, or a large-scale cyber attack.
Government officials would have to estimate both the immediate costs and the long-term debt that could result from these crises. By looking at past events, they would try to predict how much money the government might need to spend to keep the country running during a disaster.
The goal is to help Congress and the public understand the risks to the nation's finances before a crisis happens. A separate government watchdog, the GAO, would review these reports to make sure the math is correct and the planning is thorough.

2 milestones3 actions

Mar 18, 2026House

Committee Consideration and Mark-up Session Held

Jul 23, 2025House

Referred to the House Committee on Oversight and Government Reform.

Jul 23, 2025

Introduced in House

1 bill

Fiscal Contingency Preparedness Act

Jul 29 — Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Document Type

Congressional Bill

Official Title

Fiscal Contingency Preparedness Act

Bill NumberHR 4642

Congress119th Congress

ChamberHouse of Representatives

Latest ActionCommittee Consideration and Mark-up Session Held

(16)

D: 8R: 8

Congress.gov

Official legislative information

Analysis generated by AI. Always verify with official sources.