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A bill to make 5 percent across-the-board rescissions in non-defense, non-homeland-security, and non-veterans-affairs discretionary spending for each of fiscal years 2024 and 2025.

Source: Congress.gov  ·  749 words in original text
This bill cuts 5 percent of federal government spending in certain areas for two years. The cuts apply to non-defense (not military), non-homeland security and non-veterans affairs discretionary spending (money Congress can choose how to spend each year) for fiscal years 2024 and 2025. The bill protects military, homeland security and veterans affairs spending from these cuts.
Federal agencies and departments that receive discretionary funding, except those in the Department of Defense, Department of Homeland Security, Department of Veterans Affairs and Department of Energy defense activities. Congress members who oversee appropriations (spending decisions) committees.
- A 5 percent rescission (cancellation of previously approved spending) applies to budget authority provided in fiscal years 2024 and 2025 for non-defense, non-homeland security and non-veterans affairs discretionary accounts (Sec. 1(a)(1)) - A 5 percent rescission applies to advance appropriations made in prior fiscal years that are meant for spending in fiscal years 2024 and 2025 for the same eligible accounts (Sec. 1(a)(2)) - A 5 percent rescission applies to contract authority (permission to enter into contracts) for fiscal years 2024 and 2025 for eligible discretionary programs (Sec. 1(a)(3)) - The rescissions must be applied proportionately to each discretionary account and each program, project and activity within those accounts (Sec. 1(c)) - The Director of the Office of Management and Budget must submit a report within 30 days after enactment specifying which accounts and amounts are being rescinded (Sec. 1(e))
Federal agencies will lose 5 percent of their spending authority for fiscal years 2024 and 2025, except for defense, homeland security and veterans affairs programs. Any new appropriations laws passed after this bill becomes law will have the same 5 percent cuts applied immediately upon enactment.
- Rescission: A cancellation of previously authorized spending authority - Discretionary spending: Money Congress chooses to allocate each year, as opposed to mandatory spending (like Social Security) - Budget authority: The power to obligate the government to spend money - Obligation limitation: A cap on how much money can be committed to spend - Advance appropriation: Money approved in advance for use in future fiscal years - Contract authority: Permission to enter into binding contracts that create spending obligations
Not specified in bill text
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.