A rescission bill is a type of legislative proposal that aims to cancel or reduce budget authority that the President has recommended for rescission. This bill is specifically tied to a special message sent by the President to Congress, which outlines the budget authority to be rescinded. For a rescission bill to be enacted, Congress must act on it within 45 calendar days of receiving the President's message.
Rescission bills are primarily used in the context of budgetary legislation within the federal government. They fall under the broader category of fiscal policy and budget management. Legal professionals and lawmakers utilize rescission bills to adjust government spending, ensuring that funds are allocated efficiently. Users may encounter rescission bills when dealing with federal budget issues, and they can explore legal templates related to budgetary proposals through platforms like US Legal Forms.
Here are a couple of examples of abatement:
Example 1: The President submits a message to Congress proposing to rescind $500 million in budget authority for a specific program. Congress then drafts a rescission bill to approve this proposal and must complete action within 45 days.
Example 2: (hypothetical example) A rescission bill is introduced to cancel funds allocated for a project that is no longer deemed necessary, following the President's recommendation.
The primary statute governing rescission bills is found in the Congressional Budget and Impoundment Control Act of 1974. This act outlines the procedures for rescinding budget authority and the requirements for congressional action.
| Term | Definition | Key Differences |
|---|---|---|
| Rescission Bill | A bill that cancels budget authority as proposed by the President. | Specific to budget authority and requires presidential recommendation. |
| Deficit Reduction Bill | A bill aimed at reducing the federal budget deficit. | Focuses on overall budget deficits rather than specific rescissions. |
| Supplemental Appropriations Bill | A bill providing additional funding beyond the regular budget. | Involves increasing funding rather than rescinding it. |
If you are involved in budgetary matters or governmental finance, and a rescission bill may affect you, consider the following steps:
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| Attribute | Details |
|---|---|
| Typical Process | Requires a presidential message and congressional action within 45 days. |
| Legal Authority | Governed by the Congressional Budget and Impoundment Control Act of 1974. |
| Impact | Can reduce federal spending by canceling budget authority. |
The purpose of a rescission bill is to cancel or reduce budget authority as recommended by the President, helping to manage federal spending.