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S3951119th CongressWALLET
Balanced Budget Responsibility Act of 2026
Sponsored By: Senator Scott, Rick [R-FL]
Introduced
Summary
Gives the President a new, unilateral tool to withhold federal funds to eliminate a projected deficit. This bill would let the President, after consulting the Treasury Secretary and the Office of Management and Budget, decline to obligate "covered budgetary resources" up to the amount needed to remove a fiscal year deficit and it would override the Impoundment Control Act while excluding funds for Medicare and the old-age, survivors, and disability insurance program.
Show full summary
- President and Executive branch: The President would gain clear authority to withhold non-exempt budgetary resources to target a projected deficit. This creates a discretionary lever to change spending levels without new legislation.
- Federal agencies and programs funded by discretionary or direct spending: Agencies could see available obligations reduced for a fiscal year if the President exercises the authority, which could delay or shrink planned spending.
- Medicare and Social Security OASI beneficiaries: Funds for Medicare and the old-age, survivors, and disability insurance program are explicitly excluded from withholding, so those payments are protected.
*If used, this power would allow the President to reduce or eliminate a projected federal deficit by withholding covered funds.*
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
President can withhold federal funds
This bill would let the President delay or refuse to obligate most federal funds for a fiscal year. The President would make that decision only after consulting the Treasury Secretary and the Office of Management and Budget and determining a deficit will occur. The President could withhold up to the amount needed to eliminate the projected deficit. This authority would override the Impoundment Control Act and would not apply to Medicare or Social Security (OASI).
Sponsors & CoSponsors
Sponsor
Scott, Rick [R-FL]
FL • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov