Rescinds unused COVID funding from the American Rescue Plan Act and the Consolidated Appropriations Act, 2021, to reduce the deficit.
The Returning Unspent COVID Funds Act rescinds the unobligated balances of funds from the American Rescue Plan Act of 2021 and Division M or N of the Consolidated Appropriations Act, 2021. These rescinded funds will remain in the general fund of the Treasury for deficit reduction. The President can waive the rescission for specific accounts or programs if a notice is submitted to the relevant committees within 60 days of the Act's enactment.
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