Plain English
GovGreed Synthesis ·
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.
Market Impact Map
Action Timeline
2025-02-11
Read twice and referred to the Committee on the Budget.
2025-02-11
Introduced in Senate
Full Bill Text
II 119th CONGRESS 1st Session S. 515 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. 1. Repeal of Impoundment Control Act of 1974 The Impoundment Control Act of 1974 (2 U.S.C. 681 et seq.) is hereby repealed.
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