To make 5 percent across-the-board rescissions in non-defense, non-homeland-security, and non-veterans-affairs discretionary spending for each of the fiscal years 2015 and 2016.

This bill makes 5% across-the-board rescissions in discretionary spending for FY2015 and FY2016, excluding spending for defense, homeland security, and veterans affairs. It also requires the Office of Management and Budget to submit a report to Congress specifying the account and amount of each rescission made pursuant to this bill.