Bill > S2187

This bill, known as the Pay Down the Debt Act, proposes a straightforward mechanism for addressing unaccepted federal grant funds. Specifically, if a state or local government declines to accept a grant that has been awarded to them, the corresponding amount of money will be automatically rescinded (withdrawn) from the original appropriation account. Rather than allowing these unaccepted funds to remain in the federal budget, the bill mandates that the rescinded amounts be deposited directly into the general fund of the U.S. Treasury, with the explicit purpose of reducing the national deficit. This approach aims to prevent unused grant money from remaining in federal accounts and instead uses it to help address the country's ongoing fiscal challenges by directly applying the funds to decrease the national debt.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2187/all-info