S 2120
Government Bailout Prevention Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Government Bailout Prevention Act aims to prevent the federal government from providing financial assistance to states, municipalities, counties, and territories that have defaulted on their debts or are at risk of doing so. It restricts the use of federal funds, Treasury Department resources, and Federal Reserve assistance to these entities. The bill was introduced to limit potential future bailouts of local governments. However, it includes an exception for disaster relief.
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Primary sponsor
Cosponsors
Patrick Toomey
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