Amends the Impoundment Control Act of 1974 to grant the President line item veto authority in connection with legislation providing budget authority. Describes procedures to govern the veto, requiring the President to send to the Congress a special veto message with respect to each rescission item within three days of the relevant law's enactment.
Permits override of the veto if the Congress adopts a resolution of disapproval (subject to the same expedited procedure governing impoundment resolutions) and presents it to the President within 45 calendar days of the veto message.
Introduced in Senate
Read twice and referred jointly to the Committees on Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one committee reports, the other committee have thirty days of continuous session to report or be discharged.
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