Proposing an amendment to the Constitution of the United States to allow an item veto of appropriation bills.

Constitutional Amendment - Authorizes the President to disapprove any item of appropriation in any bill. Declares that if any bill is approved by the President, any item of appropriation contained therein which is not disapproved shall become law. Requires the President to return with his objections any item of appropriation disapproved to the chamber in which the bill containing such item originated. Authorizes Congress, in the manner prescribed under the U.S. Constitution for bills disapproved by the President, to reconsider any item disapproved under this article.