To amend the Congressional Budget and Impoundment Control Act of 1974 to provide for expedited rescissions of budget authority and of limited tax benefits.
Authorizes the President to transmit a draft bill to Congress with such a proposal that clearly identifies the budget authority proposed to be rescinded from each program, project, or activity funded by that Act. Authorizes submission of a draft bill that would rescind limited tax benefits as well.
Sets forth procedures for the identification of limited tax benefits.
Establishes expedited procedures in the Senate and the House of Representatives for consideration of the draft bill.
Authorizes the President to defer the obligation of budget authority subject to rescission or the implementation of any limited tax benefit subject to rescission but only if a special message requesting such rescission has been transmitted to Congress.
Sets forth deadlines for the release of deferred obligations. Bars any budget authority or limited tax benefit proposed for rescission from being proposed for rescission under the Act more than once.
Introduced in House
Introduced in House
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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