This bill directly affects the Treasury Department and the White House budget office, who must produce the analysis. The Government Accountability Office, an independent watchdog for Congress, must then review the findings and share a public report with the budget committees in both the Senate and the House.

Treasury directed to assess federal crisis readiness costs

In markupH.R. 4642Latest action Mar 18, 2026

Sponsor: Ben Cline · Representative · VA

AIDecoded by AI · checked against the record

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Official title: Fiscal Contingency Preparedness Act

119th Congress

Topics: Government & democracy

Introduced: July 23, 2025

Read the official bill on Congress.gov

In plain words

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HR 4642 would require the Treasury to add a federal crisis cost analysis to its annual report, then have the review it.

55-second read · 4 questions answered below

What does this do?

This bill would require the Treasury Department and the White House budget office to add a new section to their annual financial report. That section would analyze how ready the federal government is to handle major crises — such as recessions, pandemics, natural disasters, wars, cyberattacks, and financial collapses — and estimate what each type of crisis could cost the government in the short and long term. Past crises could be used as a reference point for building those estimates.

Who does it affect?

This bill directly affects the Treasury Department and the White House budget office, who must produce the analysis. The , an independent watchdog for Congress, must then review the findings and share a public report with the budget committees in both the Senate and the House.

Why does it matter?

Without this kind of analysis, lawmakers and the public have less information about the country's financial vulnerabilities before a crisis strikes. The review adds an independent check on the quality of the Treasury's methods and conclusions.

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Read the official bill on Congress.gov

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IntroducedJul 23, 2025
House committeeYou are here · Mar 18, 2026
House vote
Senate
The president's desk

Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.

Latest action: March 18, 2026 — Ordered to be Reported (Amended) by the Yeas and Nays: 39 - 1.

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