A bill to amend the Impoundment Control Act of 1974 to provide that any rescission of budget authority proposed by the President take effect unless specifically disapproved by the adoption of a joint resolution.

Amends the Impoundment Control Act of 1974 to provide that budget authority proposed to be rescinded or reserved in a special message transmitted to the Congress by the President shall be made available for obligation unless the Congress completes action within a specified period on a rescission bill disapproving the rescission of such authority.