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.

5/22/2026, 7:45 PM

Summary of Bill S 4629

This bill, introduced in the 119th session of Congress, is aimed at restricting the allocation of Federal funds to State and local governments and school districts for debt payment. It also seeks to prevent financial assistance by Federal entities like the Federal Reserve banks and the Department of the Treasury to entities that default on their obligations. The bill likely contains provisions outlining these restrictions and requirements to enforce compliance with the proposed prohibition on funding.

Current Status of Bill S 4629

Bill S 4629 is currently in the status of Bill Introduced since May 21, 2026. Bill S 4629 was introduced during Congress 119 and was introduced to the Senate on May 21, 2026. Bill S 4629's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of May 21, 2026

Bipartisan Support of Bill S 4629

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 4629

Primary Policy Focus

Alternate Title(s) of Bill 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.