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S. 2120: Government Bailout Prevention Act

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About the bill

Should the federal government step in to bail out cities, states, or territories which go bankrupt — or leave them to fend for themselves?


In the past decade, 69 cities have declared bankruptcy. No states did so during that time, although several came close during the worst years of the Great Recession. The last state to officially declare bankruptcy was Arkansas during the Great Depression.

Most prominent this year is Puerto Rico, which has been called “the biggest government financial collapse in United States history.” Puerto Rico’s case is not technically a Chapter 9 bankruptcy as is the designation for bankrupt states or cities, because as a U.S. territory it cannot file for Chapter 9 bankruptcy, but is instead euphemistically called a “restructuring” and is many respects similar ...

Sponsor and status

Todd Young

Sponsor. Senior Senator for Indiana. Republican.

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Last Updated: Jul 15, 2019
Length: 4 pages
Jul 15, 2019
116th Congress (2019–2021)

Introduced on Jul 15, 2019

This bill is in the first stage of the legislative process. It was introduced into Congress on July 15, 2019. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.

3% chance of being enacted according to Skopos Labs (details)


Jul 15, 2019

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

If this bill has further action, the following steps may occur next:
Passed Committee

Passed Senate

Passed House

Signed by the President

S. 2120 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number S. 2120. This is the one from the 116th Congress.

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