This bill requires congressional approval for national emergencies, termination of national emergencies after five years, and related reporting by the President. It also repeals the exemption of funds for overseas contingency operations/global war on terrorism from sequestration, which is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals.
The bill requires that the President’s declaration of a national emergency and specified emergency powers terminate after 20 Senate session days and 20 House legislative days unless Congress passes a joint resolution approving the declaration and emergency powers. Congress must similarly approve the President’s annual renewal of emergencies. The bill also establishes new procedures for expedited congressional review of national emergencies and removes the existing requirement for a congressional termination review every six months. Emergencies automatically terminate after five years.
The bill continues to apply existing law to national emergencies for which the President proposes exercising certain international emergency powers.
Additionally, the bill requires the President to provide to Congress a report on relevant circumstances when transmitting a declaration and status reports every three months during the emergency. Also, the President’s budget must include a report on the expenditure of funds pursuant to national emergencies and presidential emergency action documents must be submitted to Congress.