H.R. 7691 requires the Chairperson of the Financial Stability Oversight Council to develop contingency plans for potential disruptions in the timing of payments on U.S. Treasury securities. These disruptions could be caused by system failures, cyberattacks, natural disasters,...
Simple Explanation
The bill wants someone in charge to make a plan for what to do if there's a problem with paying back money the government owes. This plan has to think about things like computers breaking or running out of money, and the person has to tell important people in the government what they plan to do to fix it.