ExecutiveOrdersEO
NoticeNoticeObama · D

Presidential Notice

Waiver From Rescission of Unobligated Funds Under the American Recovery and Reinvestment Act of 2009

President Obama waived a statutory rescission requirement that would have clawed back $363 million in unobligated Recovery Act funds across four agencies after December 31, 2012. The waiver allows DOD, DOE, SSA, and SBA to retain these balances to continue executing projects deemed vital to the national interest.

Federal Register Open PDF 78 FR 661

Impact dates

  1. Rescission deadline waived; funds retained after this date

Key directives

  • Waive rescission requirement for $104M DOD Military Construction Defense-wide
  • Waive rescission requirement for $96M DOE Title 17 Innovative Technology Loan Guarantee Program
  • Waive rescission requirement for $148M SSA Limitation on Administrative Expenses
  • Waive rescission requirement for $15M SBA Surety Bond Guarantees Revolving Fund

Timeline

Immediate

  • Waiver takes effect preventing rescission of $363 million after December 31, 2012

Near term (90d)

  • Agencies retain unobligated balances to continue existing projects

Long term

  • No long-term structural changes; one-time fiscal preservation of specific program balances

Risks & tensions

  • Tension between fiscal responsibility rhetoric and preserving spending authority
  • Small dollar amounts relative to federal budget limit visibility
  • Vague 'vital to national interest' standard lacks specificity for accountability
Presidential Notice: Waiver From Rescission of Unobligated Funds Under the American Recovery and Reinvestment Act of 2009 · Executive Orders