II 111th CONGRESS 1st Session S. 1323 IN THE SENATE OF THE UNITED STATES June 23, 2009 Mr. Vitter (for himself, Mr. Inhofe, Mr. Bunning, Mr. Brownback, and Mr. Ensign) introduced the following bill; which was read twice and referred to the Committee on Appropriations A BILL To rescind ARRA funds rejected by State Governors and local governments and return them to the Treasury to reduce the national debt to be inherited by future generations.

1.

Short title

This Act may be cited as the Want Not, Waste Not Act.

2.

Purpose

The purpose of this Act is to ensure that any stimulus funding, which is rejected by the Governor of a State or a local government because it was not needed, is returned to the Treasury to reduce the national debt to be inherited by future generations.

3.

Rescission

There are rescinded any amounts rejected by the Governor of a State or a local government from amounts apportioned to that State under Public Law 111–5.