H.R. 4706 — A bill to require the President to notify the Congress whenever he impounds funds or authorizes the impounding of funds, and to provide a procedure under which the House of Representatives and the Senate may approve the President's action or require the President to cease such action.

Requires the President, whenever he impounds funds or authorizes the impounding of funds, to notify the Congress of (1) the amount of funds impounded, (2) the specific projects or governmental functions affected, and (3) the reasons for the impounding of such funds.

States that the President shall cease the impounding of funds within sixty days unless Congress passes a resolution ratifying such impounding.

Specifies procedures under which the House of Representatives and the Senate may approve the President's action or require the President to cease such action.

A bill to require the President to notify the Congress whenever he impounds funds or authorizes the impounding of funds, and to provide a procedure under which the House of Representatives and the Senate may approve the President's action or require the President to cease such action.

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