Proposed Rescission of Budget Authority for Advances to Unemployment Trust Fund

The President's 10th special message for fiscal year 1978 pursuant to the Impoundment Control Act of 1974 proposed the rescission of $500 million in budget authority available to the Employment and Training Administration for advances to the Unemployment Trust Fund and other funds. The 45-day period during which the funds may be withheld pending congressional consideration of a rescission bill will end on September 22, 1978. The information provided in the proposal is correct, and the action being proposed has been clearly and accurately stated.