S. 3166 · On the floor · Economics and Public Finance

Returning Unspent COVID Funds Act

Sponsor: Joni Ernst (R-IA)

What it does

• Rescind unobligated COVID-19 relief funds from six pandemic-era appropriations laws, including the American Rescue Plan Act, CARES Act, and Paycheck Protection Program legislation.
• Require all rescinded funds to remain in the Treasury and be used exclusively for deficit reduction.
• Allow the President to waive rescission for specific accounts or programs by submitting notice to the House Budget Committee and Senate Finance Committee within 60 days of enactment.

Official summary

Returning Unspent COVID Funds Act This bill rescinds certain unobligated funds that were provided to address COVID-19 and requires the funds to be used for deficit reduction. Specifically, the bill rescinds unobligated funds that were provided by the American Rescue Plan Act of 2021; Divisions M and N of the Consolidated Appropriations Act, 2021; the Paycheck Protection Program and Health Care Enhancement Act; the Coronavirus Aid, Relief, and Economic Security Act (CARES Act); the Families First Coronavirus Response Act; and the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020. Funds rescinded by this bill must remain in the Treasury to be used for the sole purpose of deficit reduction. The bill allows the President to waive the required rescission for an account or program if a notice waiving the rescission for the account or program is submitted to the House Budget Committee and the Senate Finance Committee no later than 60 days after the enactment of this bill.

Latest action

Nov 8, 2025: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 266.