Forgotten Funds Act

Bill: 119-hr-3785
Sponsor: full_name: Rep. Schweikert, David [R-AZ-1]
Introduced: 2025-06-05
Policy area: Economics and Public Finance
Latest action: action_date: 2025-06-05
text: Referred to the House Committee on Appropriations.

Summaries:
action_date: 2025-06-05
action_desc: Introduced in House
text: <p><strong>Forgotten Funds Act</strong></p><p>This bill rescinds the&nbsp;unobligated balances of discretionary appropriations that were provided for FY2021 or any previous fiscal year. It also requires the rescinded funds to be deposited into the Treasury for the sole purpose of deficit reduction.&nbsp;</p>

tv_txt: I 119th CONGRESS 1st Session H. R. 3785 IN THE HOUSE OF REPRESENTATIVES June 5, 2025 Mr. Schweikert introduced the following bill; which was referred to the Committee on Appropriations A BILL To rescind certain unobligated discretionary appropriations and require that such funds be used for Federal budget deficit reduction, and for other purposes.

1. Short title This Act may be cited as the Forgotten Funds Act . 2. Rescission of unobligated funds (a) Rescission of unobligated funds The unobligated balances of any discretionary appropriations made available for fiscal year 2021 and any previous fiscal year are hereby permanently rescinded. (b) Use for deficit reduction Any amounts rescinded under subsection (a) shall be deposited in the general fund of the Treasury for the sole purpose of deficit reduction.