H. R. 9040 requires government agencies, referred to as covered agencies, to develop and regularly update strategies to transfer financial risks such as credit, guarantee, and insurance risks to the private sector. The goal is to minimize costs to taxpayers and improve risk...
Simple Explanation
H. R. 9040 is a plan that asks some government groups to share their money troubles with private companies to save taxpayer money. These groups need to show how they'll do it, ask the public what they think, and check if it's working.