Line Item Veto Act

Line Item Veto Act - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to cancel in whole any dollar amount of discretionary budget authority, any item of new direct spending, or any limited tax benefit signed into law, if the President: (1) determines that such cancellation will reduce the Federal budget deficit and will not impair essential Government functions or harm the national interest; and (2) notifies the Congress of any such cancellation within five calendar days after enactment of the law providing such amount, item, or benefit. Requires the President, in identifying cancellations, to consider legislative histories and information referenced in law. Provides that the President's authority shall not apply to any cancellation contained in an enacted disapproval bill (a bill or joint resolution of prescribed language which only disapproves one or more cancellations contained in a special message transmitted by the President). Directs the President, for each law from which a cancellation has been made, to transmit to the Congress a single special message identifying the amounts, items, and benefits cancelled and setting forth: (1) the President's determinations under this Act; (2) the reasons for the cancellation; (3) the estimated fiscal, economic, budgetary, and program effects; (4) the adjustments to discretionary spending…

Congressional Research Service · 1996-03-21