US SB360

Rescinds 1% of nonsecurity discretionary appropriations for fiscal year 2026, applied on a pro rata basis across all affected accounts

Increases the rescission to 2% for fiscal year 2027, again applied pro rata across nonsecurity discretionary spending

Establishes a permanent 5% annual rescission for fiscal year 2028 and all subsequent years, applied automatically once full-year appropriations are enacted

Exempts security category spending (defense, homeland security, veterans affairs, intelligence, and nuclear security programs) from all rescissions

Requires the Office of Management and Budget to report to congressional appropriations committees within 30 days of enactment, detailing the specific account and dollar amount of each rescission