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Forgotten Funds Act: Federal Debt Reduction Through Unspent Appropriations

This act aims to reduce the national debt by canceling unspent federal budget funds from 2021 and prior years. These funds, which were not used for their original purposes, will be directly allocated to debt repayment. This means taxpayer money that remained unused will now be directed towards improving the country's overall financial situation, potentially contributing to economic stability.
Key points
Unspent federal budget funds from fiscal year 2021 and previous years will be canceled.
All canceled funds will be used solely for reducing the United States' national debt.
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Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3785
Sponsor: Rep. Schweikert, David [R-AZ-1]
Process start date: 2025-06-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Forgotten Funds Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3785.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-06-05.

What are the main provisions?

Key points include:

  • Unspent federal budget funds from fiscal year 2021 and previous years will be canceled.
  • All canceled funds will be used solely for reducing the United States' national debt.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Schweikert, David [R-AZ-1].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Appropriations.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy Public Investments