Bill119th CongressFiled May 21, 2026
S. 4629
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.
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it does
A plain-language summary from the Congressional Research Service isn’t available yet for this bill. CRS summaries are typically posted within a few weeks of introduction.
What just happenedMay 21, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
Sen. Young, Todd [R-IN](R-IN)Sponsor
1 cosponsor1 R
1cosponsors1committees2actions
- May 21, 2026IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- May 21, 2026IntroReferral10000
Introduced in Senate