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Highlights

Review is made of the status of impounded budget authority for 18 proposed rescissions included in the President's seventh and eighth special messages. All the budget authority was not released for 12 rescissions by the Office of Management and Budget because the rescission proposals included transition quarter and 1977 fiscal year budget authority, which is not required to be apportioned until 20 days prior to the period in which the funds become available. The status on March 22, 1976, for the 12 rescission proposals is shown. Because of unanticipated income, more budget authority than that proposed for rescission was released in two cases: the Water Bank Act Program and the Self-Help Housing Land Development Fund.

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