S.1392: A bill to establish the Federal Rainy Day Fund to control emergency spending.

This bill establishes a Federal Rainy Day Fund to fund emergency spending. Under the bill, an emergency is any occasion or instance for which federal assistance is needed to supplement state and local efforts and capabilities to save lives and to protect property, public health, and safety; or to lessen or avert the threat of a catastrophe in any part of the United States. The bill authorizes annual appropriations to the fund that are equal...

(Source: Library of Congress)