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Minn. Lawmaker Aims To Plan For Federal Insolvency

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(credit: CBS)

(credit: CBS)

ST. PAUL, Minn. (AP) — A Minnesota lawmaker wants the state to make plans in case the federal government goes bust.

The bill from Republican Rep. Keith Downey of Edina would require state agencies that get federal funds to make contingency plans in case the federal government becomes insolvent.

Downey’s bill is up for a hearing in a House government panel on Thursday.

He and GOP House Majority Leader Matt Dean also hold a news conference to talk about the legislation.

The proposal tells state agencies to pinpoint their risks from federal financial instability and develop plans to handle the loss of federal funds.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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