"We will cross that bridge when we come to it, but I would probably do what I did last year," Cousins told ESPN after the NFC's Pro Bowl practice. "I will sign it and play with it. I'm not afraid."
Cousins signed a one-year franchise tender worth $19.953 million last season. This year's quarterback tag would increase to approximately $23.94 million, but it wouldn't offer Cousins the multiyear contract most players seek.
"It will be hard to have a lack of security at that point," Cousins said.
According to ESPN Stats & Information, there have been 13 players in NFL history -- of which none were quarterbacks -- to receive franchise tags in back-to-back seasons.
Washington finished 8-7-1 last season and missed the playoffs. Cousins threw for a career-high 4,917 yards and added 25 touchdown passes.
Despite struggling to come to a long-term agreement, Cousins hopes to return to Washington and said his primary focus is turning the Redskins into consistent winners.
"We want to keep getting back to the playoffs, win playoff games and ultimately win a Super Bowl. That's what you're going to be measured on," Cousins said. "Only one team is happy at the end of the year. That's what we're chasing. I will always be on that quest to do that.
"Until then there will always be doubts, and that's OK. That's part of playing at this level and you take the good with the bad."