Memorandum on Budget Deferrals and Proposed Rescissions.

MEMORANDUM TO THE HEADS OF DEPARTMENTS AND AGENCIES SUBJECT: Budget Rescissions and Deferrals

I have today sent to the Congress my first special message under Title X of the recently enacted Congressional Budget and Impoundment Control Act of 1974. A copy of that message is attached.

The package I have submitted contains reports on budget authority totalling $20.3 billion. Included among these items are some which are not covered by the new Act, but release of virtually any of them would lead to spending above that contemplated by the FY 1975 Budget.

Gaining congressional support for the items contained in this transmittal, and for those I will be sending up in the future under this Act, is absolutely vital if we are to make any headway against inflation by controlling Federal expenditures. This Government must set an example of fiscal restraint for the people of America and the world.

Each of you knows my position on cutting back below 1975 Budget levels. I need your strong assistance in supporting this first critical step, and the others that follow, to meet our budgetary goals. I know I can count on you to work closely with the Congress in order to gain the necessary acceptance of the deferrals and rescissions I propose today and in the future.

GERALD R. FORD