January 26, 2026
The Honorable Ben Cline
2443 Rayburn House Office Building
Washington, DC 20515
The Honorable Jack Bergman
566 Cannon House Office Building
Washington, DC 20515
The Honorable Jared Golden
1107 Longworth House Office Building
Washington, DC 20515
The Honorable Marie Gluesenkamp Perez
1431 Longworth House Office Building
Washington, DC 20515
Dear Representatives Cline, Bergman, Golden, and Gluesenkamp Perez,
On behalf of National Taxpayers Union, the nation’s oldest taxpayer advocacy organization, I write to express our strong support for H.R. 4642, the Fiscal Contingency Preparedness Act. This bipartisan legislation would require the federal government to regularly assess and report its fiscal readiness to respond to national emergencies such as natural disasters, energy crises, and threats to national security. This practical measure would improve transparency and planning for policymakers and taxpayers alike.
The federal government faces profound fiscal challenges. Annual deficits hover near $2 trillion and interest on the national debt already consumes about 13% of the entire U.S. federal budget. Yet, Congress lacks a consistent and forward-looking framework to determine how much fiscal capacity the federal government has ahead of a national crisis. Ultimately, Congress needs to lead to get the nation’s fiscal house in order, but more tools are needed to properly plan for the long-term.
The Fiscal Contingency Preparedness Act offers a proactive approach to getting policymakers to look beyond short-term political time horizons and to consider the government’s long-term fiscal position under worst-case scenarios. This legislation directs the Secretary of the Treasury and the Director of the Office of Management and Budget to produce annual reports that evaluate the financial risks associated with the federal government facing unexpected fiscal pressures. Importantly, this legislation requires the nonpartisan Government Accountability Office to review these assessments and share its findings with the public.
Regulators routinely subject big banks to financial stress tests to ensure their resilience, and it’s only fair to taxpayers that the federal government undergo a similar evaluation of its financial standing. Formalizing this kind of scrutiny will help steer U.S. fiscal policy in a more responsible direction by giving policymakers the tools to avoid rash, deficit-fueled spending decisions when confronted with the next national crisis.
In the years that followed the COVID-spending spree and debt ceiling crises, taxpayers suffered the consequences of higher inflation and an increased debt burden. By institutionalizing a regular process to measure the government’s fiscal condition before the next crisis strikes, policymakers will be empowered to avoid making reckless, ad hoc decisions driven by a lack of preparedness. NTU is proud to support this legislation and looks forward to working with you to help it become law.
Sincerely,
Alex Ciccone
Policy and Government Affairs Manager
National Taxpayers Union