Fiscal Contingency Preparedness Act requires Treasury and OMB to assess federal fiscal risks from shocks.
The Fiscal Contingency Preparedness Act mandates the Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget, to examine the fiscal risks and impacts of federal responses to potential national and international fiscal shocks. These shocks include armed conflicts, cyber attacks, financial crises, economic recessions, energy crises, natural disasters, and health crises. The examination must detail significant economic impacts and indicators to convey short-term and long-term fiscal effects.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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