Number: RL33869 Title: Rescission Actions Since 1974: Review and Assessment of the Record Authors: Virginia A. McMurtry, Government and Finance Division Abstract: This report begins by reviewing the framework for handling rescissions established by the Impoundment Control Act of 1974 (ICA, 88 Stat. 332) and by amendments to it in 1987 (101 Stat. 786). A section with review and analysis of data on rescission requests and outcomes pursuant to the 1974 law follows, including comparisons among the respective Administrations. Attention then turns to actions which took place during the brief period that the Line Item Veto Act of 1996 (LIVA, P.L 104-130, 110 Stat. 1200) was in force. During his first six years as President, George W. Bush sent no formal ICA rescission requests to Congress, but some controversy developed over his use of "cancellation statements" proposing spending reductions. The final section of the report provides some concluding observations. Pages: 26 Date: March 14, 2008