The main purpose of this legislation is to repeal the Impoundment Control Act of 1974. This Act was originally established to set rules on how the President can withhold or delay the spending of funds that have been allocated by Congress. The key provision of this legislation is straightforward: it completely removes the Impoundment Control Act from the law. This means that the rules and procedures that were put in place to control how the President can manage federal spending will no longer exist.