Section 1. Short title
This Act may be cited as the Forgotten Funds Act.
(a) Rescission of unobligated funds
The unobligated balances of any discretionary appropriations made available for fiscal year 2021 and any previous fiscal year are hereby permanently rescinded.
(b) Use for deficit reduction
Any amounts rescinded under subsection (a) shall be deposited in the general fund of the Treasury for the sole purpose of deficit reduction.