Pay Down the Debt Act
Sponsored By: Senator Lummis, Cynthia M. [R-WY]
Introduced
Summary
Reclaims unaccepted federal grant dollars and directs them to deficit reduction. This bill would automatically rescind amounts a State or local government does not accept for an awarded grant and require those rescinded funds to be deposited in the Treasury's general fund for deficit reduction.
Show full summary
- States and local governments: If a state or local government does not accept a grant award, the specific dollar amount that would have gone to them would be withdrawn from the original appropriation account.
- Federal budget: Rescinded amounts would be deposited into the Treasury general fund and used solely to reduce the federal deficit, effectively lowering the net appropriation tied to unaccepted grants.
- Federal agencies and programs: The bill would not create new grant programs or add new eligibility rules, phase-ins, sunsets, or extra reporting requirements beyond the required deposit.
*If enacted, this bill would reduce federal deficits by returning unaccepted grant funds to the Treasury for deficit reduction.*
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Rescind unused state and local grants
This bill would require federal agencies to cancel grant amounts that states or local governments do not accept. The same dollar amount would be removed from the original grant appropriation account. Those funds would be deposited into the U.S. Treasury general fund. The deposits would be used only to reduce the federal deficit and the rule would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Lummis, Cynthia M. [R-WY]
WY • R
Cosponsors
Sen. Scott, Rick [R-FL]
FL • R
Sponsored 6/26/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov