1. Short title
This Act may be cited as the “Discretionary Spending Reduction Act”.
Discretionary Spending Reduction Act
A BILL
To make 1 percent across-the-board rescissions in discretionary spending for each of fiscal years 2013 and 2014, and for other purposes.
2. Across-the-board rescissions in discretionary spending for each of fiscal years 2013 and 2014
Across-the-Board rescissions— There is rescinded an amount equal to 1 percent of—
the budget authority provided (or obligation limitation imposed) in each of fiscal years 2013 and 2014 for discretionary accounts in any fiscal year 2013 or 2014 appropriation Act;
the budget authority provided in any advance appropriation for each of fiscal years 2013 and 2014 for discretionary accounts in any prior fiscal year appropriation Act; and
the contract authority provided in each of fiscal years 2013 and 2014 for any program that is subject to a limitation contained in any fiscal year 2013 or 2014 appropriation Act for discretionary accounts.
Application— The Director of the Office of Management and Budget may apply the rescissions required under subsection (a) to any discretionary account in the applicable appropriation Acts in order to achieve the required reductions.
Subsequent appropriation laws— In the case of any fiscal year 2013 or 2014 appropriation Act enacted after the date of enactment of this section, any rescission required by subsection (a) shall take effect immediately after the enactment of such Act.
OMB report— Within 30 days after the date of enactment of this section (or, if later, 30 days after the date of enactment of any fiscal year 2013 or 2014 appropriation Act), the Director of the Office of Management and Budget shall submit to the Committees on Appropriations of the House of Representatives and the Senate a report specifying the account and amount of each rescission made pursuant to subsection (a).