President's Fourth Special Message for FY 1981

The President's fourth special message to Congress for fiscal year 1981 proposed a rescission of $1.5 million appropriated to the Executive Office of the President, Council on Wage and Price Stability, for salaries and expenses. Reduction in force notifications were issued on or about February 2, 1981, and staff positions will be reduced from about 170 to about 35 by March 7, 1981. The funds covered by the rescission must be made available for obligation if a rescission bill is not passed by Congress by March 25, 1981. Since the positions and the program being terminated were established by Executive order, this action will occur regardless of whether the rescission proposal is passed. If a rescission bill is not passed, the funds will be made available but will go unspent since the program and positions will be terminated.