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S 4629 119th Congress · Senate

Stop Federal Aid to Defaulting States and Schools

Official title: 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.

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What This Bill Does

This bill aims to prevent federal funding from going to state and local governments and school districts that have defaulted on their financial obligations.

This bill is significant for ordinary Americans as it could impact the financial stability of local governments and schools, potentially affecting public services and education funding.

Who This Bill Affects

If passed, this bill could lead to reduced funding for essential services in communities that are already facing financial difficulties, potentially resulting in cuts to public services and education.

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Latest Status

May 21, 2026

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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Data sourced from api.congress.gov. AI summaries by BillBoard.