Ordered to be Reported (Amended) by the Yeas and Nays: 39 - 1.
This bill requires the Secretary of the Treasury to add a new section to an existing annual report that looks at how well the federal government could handle major financial emergencies like recessions, pandemics, natural disasters, or wars. It is a reporting requirement only and does not spend money or change any government programs. If it passes, the public would get a yearly "stress test" showing how prepared the government's finances are for big crises.
The federal government has no formal process for testing whether it could financially survive a major crisis , like a pandemic, war, or deep recession. This bill would give the public a yearly look at how prepared (or unprepared) the nation's budget is to absorb those kinds of shocks.