A bill to amend the Impoundment Control Act of 1974 to provide that either House of Congress may be resolution disapprove any rescission or reservation of funds proposed by the President, without waiting for the expiration of the 45-day period prescribed (for disapproval by congressional inaction) by present law.

Amends the Impoundment Control Act of 1974 to provide that any amount of budget authority proposed to be rescinded or that is to be reserved as set forth in a special message shall be made immediately available for obligation if either House (before the expiration of the prescribed 45-day period) passes a rescission resolution disapproving such rescission or reservation.