Bill > HR1043

This bill, the Reduce Unnecessary Spending Act of 2011, amends the Impoundment Control Act of 1974 to create an optional fast-track procedure for the President to propose rescinding (eliminating or reducing) previously approved funding. Under this new process, the Office of Management and Budget (OMB) must notify Congress within 45 days of funding being enacted if the President wishes to propose rescissions, providing specific details about the funding to be rescinded and the reasons why. The President can temporarily withhold this funding from obligation while Congress considers the rescission request, but this expedited procedure and the authority to withhold funds can only be used once per funding act. The bill also establishes strict timelines and procedures for Congress to consider these rescission proposals, aiming for an up-or-down vote without amendments, and any funds rescinded under this act must be used to reduce the national deficit or increase the surplus. This part of the Impoundment Control Act is set to expire on December 31, 2015.