Bill Details
S.515 - 119th Congress
Status
Latest action
2025-02-11 - Read twice and referred to the Committee on the Budget.
Introduced Date
2025-02-11
Policy Area
Economics and Public Finance
Committees
View committees (1)
Sponsors
Cosponsors
View cosponsors (1)
7
0
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AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would remove the law from 1974 that sets rules for how the president can withhold, delay, or cancel money that Congress has already approved. In simple terms, it would eliminate the current process that helps Congress control whether federal funds must be spent as planned.
- It would fully repeal the 1974 law, not just change parts of it.
- If passed, the current rules on delaying or cancelling approved government spending would no longer apply.
Official Summaries
This bill repeals the Impoundment Control Act of 1974 (ICA). The ICA generally limits the authority of the President to impound (i.e., withhold from obligation or expenditure) funds that have been appropriated by Congress and establishes related procedures. It also establishes expedited legislative procedures that Congress may use to consider legislation to enact rescissions proposed by the President.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 515 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
1st Session
S. 515
To repeal the Impoundment Control Act of 1974.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 11, 2025
Mr. Lee introduced the following bill; which was read twice and
referred to the Committee on the Budget
_______________________________________________________________________
A BILL
To repeal the Impoundment Control Act of 1974.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. REPEAL OF IMPOUNDMENT CONTROL ACT OF 1974.
The Impoundment Control Act of 1974 (2 U.S.C. 681 et seq.) is
hereby repealed.
<all>