We have received text from S. 4629: Government Bailout Prevention Act. This bill was received on 2026-05-21, and currently has 1 cosponsor.
Here is a short summary of the bill:
This bill, titled the Government Bailout Prevention Act , aims to restrict federal financial assistance to state and local governments and school districts that are experiencing financial distress. Here is a breakdown of the key components of the bill:
Prohibition on Federal Funds
The bill states that no federal funds may be used to:
- Purchase or guarantee obligations of any state or local government, including school districts, that have filed for bankruptcy or have defaulted on their obligations since January 1, 2026.
- Issue lines of credit or provide grants and aid to such government entities if they are deemed at risk of defaulting or likely to default.
Limits on Treasury Borrowing
The Secretary of the Treasury is also prohibited from using federal funds or borrowed funds to:
- Purchase or guarantee any assets or obligations of governments that meet similar financial distress criteria as outlined above.
- Assist these governments if they have defaulted or are at risk of defaulting since the specified date.
Restrictions on Federal Reserve Assistance
The bill specifies that Federal Reserve banks are not allowed to:
- Provide financial support, including loans or guarantees, to any state or local government entity that has defaulted, is in bankruptcy, or is at risk of defaulting.
- Purchase bonds or assist governments that hold taxing or bonding authority under these conditions.
Exceptions
There are exceptions to these prohibitions:
- Federal assistance is still allowed in the case of a declared disaster.
Applicability
The prohibitions mentioned in the bill extend to:
- Debt restructuring or related activities concerning the specified governments.
However, it does not affect:
- Discretionary appropriations or direct spending as defined in the Balanced Budget and Emergency Deficit Control Act of 1985.
- Any grants awarded to the governments specified in the bill.
Definition of State
For the purposes of the bill, the term State includes:
- Any of the individual states in the United States.
- The District of Columbia.
- Any U.S. territory or possession.
Objectives of the Bill
The main goal of this legislation is to prevent federal financial bailouts for state and local governments and school districts that face financial difficulties, thereby promoting fiscal responsibility among these entities.
Relevant Companies
None found
Senator Todd Young Bill Proposals
Here are some bills which have recently been proposed by Senator Todd Young:
- S.4657: A bill to amend the Internal Revenue Code of 1986 to repeal the excise tax on heavy trucks and trailers, and for other purposes.
- S.4653: A bill to amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles.
- S.4629: Government Bailout Prevention Act
- S.4539: Protecting Charitable Giving Act
- S.4463: WAGES Act of 2026
- S.4441: CREATE AI Act
You can track bills proposed by Senator Todd Young on Quiver Quantitative's politician page for Young.
Senator Todd Young Net Worth
Quiver Quantitative estimates that Senator Todd Young is worth $91.0K, as of June 9th, 2026. This is the 460th highest net worth in Congress, per our live estimates.
Young has approximately $0 invested in publicly traded assets which Quiver is able to track live.
You can track Senator Todd Young's net worth on Quiver Quantitative's politician page for Young.
2028 Indiana US Senate Election
There has been approximately $10,940,044 of spending in Indiana US Senate elections over the last two years, per our estimates.
Approximately $766,465 of this has been from outside spending by PACs and Super PACs. Some of the groups who are spending money in this race include:
- AMERICAN LEADERSHIP PAC ($604,570)
- HOOSIER HONOR ($126,840)
- PROTECT FREEDOM POLITICAL ACTION COMMITTEE ($29,282)
- CLUB FOR GROWTH PAC ($3,625)
- INDIANA REPUBLICAN STATE COMMITTEE, INC. ($2,147)
You can track this election on our matchup page for the 2028 Indiana US Senate election.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
