introduced the House companion to Sen. Todd Young’s Government Bailout Prevention Act, described as legislation that establishes clear safeguards against federal bailouts and prevents taxpayers from being forced to rescue financially troubled state and local governments
Prevent federal bailouts of financially troubled state and local governments by establishing safeguards against rescuing them with taxpayer dollars.
Occurrences
introduced the House companion to Senator Todd Young's (R-Ind.) Government Bailout Prevention Act, legislation that establishes clear safeguards against federal bailouts and prevents taxpayers from being forced to rescue financially troubled state and local governments.
Evidence
legacy_unverified · Source version not recorded · locator unknown
GovInfo lists H.R. 9324, the Government Bailout Prevention Act, as introduced by Mr. Steube on June 15, 2026 and referred to the House Oversight and Government Reform and Financial Services committees. The full title is to prohibit federal funds and Federal Reserve, Treasury, and other agency assistance to state and local governments and school districts that have defaulted on obligations.
legacy_unverified · Source version not recorded · locator unknown
Rep. Steube's office announced he introduced the House companion to Senator Young's Government Bailout Prevention Act, describing it as legislation to establish safeguards against federal bailouts and prevent taxpayers from rescuing financially troubled state and local governments. The release says the bill would prohibit federal funds, including Federal Reserve and Treasury assistance, from supporting obligations of defaulted, bankrupt, or imminently insolvent state and local governments.
Assessments
Steube introduced H.R. 9324, the Government Bailout Prevention Act, in the 119th Congress on June 15, 2026. The bill directly matches the promised safeguards against federal bailouts of troubled state and local governments, but available legislative records show it was only introduced and referred to House committees, with no enactment or implemented federal safeguard yet. Because he materially advanced aligned legislation while still in federal office, this merits an effort badge, but the promised outcome remains pending rather than delivered.