I 
119TH CONGRESS 
1ST SESSION H. R. 4642 
To require the Secretary of the Treasury, in coordination with the Director 
of the Office of Management and Budget, to examine the ability of 
the Federal Government to respond to potential fiscal shocks, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 23, 2025 
Mr. CLINE (for himself, Mr. GOLDEN of Maine, Mr. BERGMAN, and Ms. 
PEREZ) introduced the following bill; which was referred to the Com-
mittee on Oversight and Government Reform 
A BILL 
To require the Secretary of the Treasury, in coordination 
with the Director of the Office of Management and 
Budget, to examine the ability of the Federal Govern-
ment to respond to potential fiscal shocks, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Fiscal Contingency 
Preparedness Act’’. 
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SEC. 2. ANNUAL REPORT. 
(a) IN GENERAL.—Section 331(e) of title 31, United 
States Code, is amended by adding at the end the fol-
lowing: 
‘‘(3)(A) As a component of the report required under 
paragraph (1), the Secretary of the Treasury, in coordina-
tion with the Director of the Office of Management and 
Budget, shall examine the fiscal risks and fiscal impacts 
of the response of the Federal Government to potential 
national and international fiscal shocks. 
‘‘(B) In making the examination required under sub-
paragraph (A), the Secretary of the Treasury, in coordina-
tion with the Director of the Office of Management and 
Budget, shall— 
‘‘(i) include an assessment of the fiscal risks 
and fiscal impacts of the Federal Government re-
sponding to events, such as— 
‘‘(I) an economic recession or depression; 
‘‘(II) a domestic energy crisis; 
‘‘(III) a catastrophic natural disaster; 
‘‘(IV) a health crisis, such as a global pan-
demic; 
‘‘(V) a significant armed conflict or event; 
‘‘(VI) a significant cyber attack; and 
‘‘(VII) a financial crisis; 
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‘‘(ii) determine the estimated short-term and 
long-term fiscal effects on the Federal Government 
in the case of an event described in clause (i); and 
‘‘(iii) describe significant economic impacts and 
indicators selected by the Secretary of the Treasury, 
in coordination with the Director of the Office of 
Management and Budget, to convey the short-term 
and long-term fiscal effects on the Federal Govern-
ment in the case of an event described in clause (i) 
in the method that best accomplishes the goal of the 
examination. 
‘‘(C) In making the examination required under sub-
paragraph (A) and determining the scope and magnitude 
of an event described in subparagraph (B)(i), the Sec-
retary of the Treasury, in coordination with the Director 
of the Office of Management and Budget, may consider 
historical instances of those events and the response of 
the Federal Government to those historical instances. 
‘‘(D) In including the examination required under 
subparagraph (A) in the report required under paragraph 
(1), the Secretary of the Treasury, in coordination with 
the Director of the Office of Management and Budget, 
may structure and report the examination in the method 
that best accomplishes the goal of the examination.’’. 
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House of Representatives the report published under 
paragraph (2). 
Æ 
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