With the national debt surpassing $36 trillion, Congressman Ben Cline (VA-06) has introduced the Fiscal Contingency Preparedness Act. Co-sponsored by Reps. Jared Golden (ME-02), Jack Bergman (MI-01), and Marie Gluesenkamp Perez (WA-03), this bipartisan bill mandates an assessment of the federal government’s ability to respond to major emergencies such as economic downturns and security threats.
The legislation requires annual reports from the Secretary of the Treasury and the Director of the Office of Management and Budget on fiscal strength and readiness. The Government Accountability Office would independently review these findings for transparency.
Rep. Ben Cline stated, “With our debt piling up and interest payments skyrocketing, we cannot afford to be caught flat-footed when the next emergency hits.” He emphasized that responsible planning is necessary before a crisis occurs.
Congressman Jared Golden noted, “This bipartisan bill would force Washington to be clear-eyed about our fiscal outlook in potential national emergencies.” Rep. Jack Bergman added that preparation is key to responding effectively to crises.
Rep. Gluesenkamp Perez highlighted her experience as a small business owner, emphasizing the importance of planning for crises. She stated that federal government assessments are crucial for preparing the economy under various circumstances.
Interest payments on national debt are expected to exceed defense spending permanently, with projections indicating they will double by 2050. Former Senator Joe Manchin expressed support for this measure, calling it a commonsense approach akin to family emergency preparedness.
Maya MacGuineas, President of the Committee for a Responsible Federal Budget, commended Representatives Cline and Golden for introducing this proposal aimed at strengthening fiscal resilience.
Rep Ben Cline concluded by stating that being prepared is vital for managing taxpayer dollars responsibly and ensuring a stable financial future.
Ben Cline represents Virginia’s Sixth Congressional District and lives in Botetourt County with his family.
