To rescind certain unobligated balances, and for other purposes.

Hozzl · 2024-02-07T16:32:33Z

Explore the details of House Bill 3673 To rescind certain unobligated balances, and for other purposes. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Economics and Public Finance. Stay informed on legislative developments.

2/7/2024, 4:32 PM

Summary of Bill HR 3673

Bill 118 hr 3673, also known as the "Rescission Act," aims to rescind or cancel certain unobligated balances of funds that have not yet been spent by the federal government. The bill is intended to help reduce government spending and ensure that taxpayer dollars are being used efficiently.

The bill specifies that the rescinded funds must come from accounts that have not been obligated for at least two years and are no longer necessary for the purposes for which they were originally allocated. This process of rescinding unobligated balances is a common practice in Congress to help streamline government spending and prevent wasteful use of taxpayer money.

In addition to rescinding unobligated balances, the bill also includes provisions for other purposes, although specific details are not provided in the summary. Overall, the Rescission Act is aimed at promoting fiscal responsibility and ensuring that government funds are being used effectively and efficiently.

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Current Status of Bill HR 3673

Bill HR 3673 is currently in the status of Bill Introduced since May 25, 2023. Bill HR 3673 was introduced during Congress 118 and was introduced to the House on May 25, 2023. Bill HR 3673's most recent activity was Referred to the Committee on Ways and Means, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of May 25, 2023