Returning Unspent COVID Funds Act
Returning Unspent COVID Funds Act
Plain Language Summary
# Returning Unspent COVID Funds Act - Summary **What the Bill Would Do** This bill would take back federal money that was allocated for COVID-19 relief but hasn't been spent yet. The funds come from six major COVID-relief packages passed between 2020 and 2021, including the CARES Act and the American Rescue Plan. Instead of allowing agencies to use these unspent funds for their original purposes, the bill would redirect that money to reduce the federal deficit.
However, the President could waive this requirement for specific programs by notifying Congress within 60 days of the bill becoming law. **Who It Affects and Current Status** This bill would primarily affect federal agencies that received COVID-relief funding and any programs or services that depend on those unspent dollars. The specific impact depends on how much money remains unobligated across these programs. The bill was introduced in the 119th Congress but has not yet advanced beyond the introduction stage, so it has not been passed into law.
CRS Official Summary
Returning Unspent COVID Funds ActThis bill rescinds certain unobligated funds that were provided to address COVID-19 and requires the funds to be used for deficit reduction. Specifically, the bill rescinds unobligated funds that were provided by the American Rescue Plan Act of 2021;Divisions M and N of the Consolidated Appropriations Act, 2021;the Paycheck Protection Program and Health Care Enhancement Act;the Coronavirus Aid, Relief, and Economic Security Act (CARES Act);the Families First Coronavirus Response Act; andthe Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020.Funds rescinded by this bill must remain in the Treasury to be used for the sole purpose of deficit reduction.The bill allows the President to waive the required rescission for an account or program if a notice waiving the rescission for the account or program is submitted to the House Budget Committee and the Senate Finance Committee no later than 60 days after the enactment of this bill.
Latest Action
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 266.