S 2187
Pay Down the Debt Act
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Pay Down the Debt Act aims to reduce the national debt by rescinding funds from federal grants that states or local governments choose not to accept. Specifically, if a state or local government declines a grant, the unspent portion of that grant will be returned to the Treasury. These funds will then be used to decrease the federal deficit. This legislation focuses on eliminating wasteful spending on unused grant programs.
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