A bill to prohibit the provision of Federal funds to State and local governments and school districts for payment of obligations, to prohibit the Federal Reserve banks, the Department of the Treasury, and other Federal agencies from financially assisting State and local governments and school districts that have defaulted on their obligations, and for other purposes.

Latest action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · May 21, 2026

View full text on Congress.gov ↗