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S 726

112th CONGRESS
1st Session

S. 726

To rescind $45 billion of unobligated discretionary appropriations, and for other purposes.

IN THE SENATE OF THE UNITED STATES

April 5, 2011

Mr. RUBIO introduced the following bill; which was read twice and referred to the Committee on the Budget


A BILL

To rescind $45 billion of unobligated discretionary appropriations, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the `Decrease Spending Now Act'.

SEC. 2. RESCISSION OF UNOBLIGATED DISCRETIONARY APPROPRIATIONS.

    (a) In General- Of the unobligated balances of discretionary appropriations on the date of enactment of this Act, $45,000,000,000 is rescinded.

    (b) Implementation-

      (1) IN GENERAL- The Director of the Office of Management and Budget shall determine which appropriation accounts the rescission under subsection (a) shall apply to and the amount that each such account shall be reduced by pursuant to such rescission.

      (2) REPORT- Not later than 60 days after the date of the enactment of this Act, the Director of the Office of Management and Budget shall submit a report to the Secretary of the Treasury and Congress listing the accounts reduced by the rescission in subsection (a) and the amounts rescinded from each such account.

    (c) Exceptions- The rescission under subsection (a) shall not apply to the Department of Defense, the Department of Veterans Affairs, or the Social Security Administration.

END