S.360

A bill to reduce nonsecurity discretionary spending by rescinding a percentage of such spending each fiscal year.

The bill provides for across-the-board rescissions of nonsecurity discretionary spending. For fiscal year 2026, it rescinds 1 percent of nonsecurity discretionary appropriations. For fiscal year 2027, it rescinds 2 percent. For fiscal year 2028 and each fiscal year thereafter, it rescinds 5 percent. The Director of the Office of Management and Budget must report to the Senate and House Appropriations Committees on the account and amount of each rescission.