Decrease Spending Now Act

Bill: 113-s-379
Sponsor: full_name: Sen. Rubio, Marco [R-FL]
Introduced: 2013-02-26
Policy area: Economics and Public Finance
Subjects: Appropriations

Budget deficits and national debt
Latest action: action_date: 2013-02-26
text: Read twice and referred to the Committee on the Budget.

Summaries:
action_date: 2013-02-26
action_desc: Introduced in Senate
text: <p>Decrease Spending Now Act - Rescinds $45 billion of unobligated balances of current discretionary appropriations.</p> <p>Requires the Director of the Office of Management and Budget (OMB) to: (1) determine which appropriation accounts the rescission shall apply to and the amount that each such account shall be reduced, and (2) report to the Secretary of the Treasury and Congress a list of the accounts reduced by the rescission, including the amounts rescinded from each such account.</p> <p>Exempts from such rescission the Department of Defense (DOD), the Department of Veterans Affairs (VA), and the Social Security Administration (SSA).</p> <p><br> </p> <p><br> </p>

tv_txt: II 113th CONGRESS 1st Session S. 379 IN THE SENATE OF THE UNITED STATES February 26, 2013 Mr. Rubio (for himself, Ms. Ayotte , Mr. Blunt , Mr. Isakson , Mr. Johnson of Wisconsin , Mr. Lee , Mr. McCain , Mr. Risch , Mr. Thune , and Mr. Vitter ) introduced the following bill; which was read twice and referred to the Committee on the Budget A BILL To rescind $45 billion of unobligated discretionary appropriations, and for other purposes.

1. Short title This Act may be cited as the Decrease Spending Now Act . 2. Rescission of unobligated discretionary appropriations (a) In general Of the unobligated balances of discretionary appropriations on the date of enactment of this Act, $45,000,000,000 is rescinded. (b) Implementation (1) In general The Director of the Office of Management and Budget shall determine which appropriation accounts the rescission under subsection (a) shall apply to and the amount that each such account shall be reduced by pursuant to such rescission. (2) Report Not later than 60 days after the date of the enactment of this Act, the Director of the Office of Management and Budget shall submit a report to the Secretary of the Treasury and Congress listing the accounts reduced by the rescission in subsection (a) and the amounts rescinded from each such account. (c) Exceptions The rescission under subsection (a) shall not apply to the Department of Defense, the Department of Veterans Affairs, or the Social Security Administration.