Vote to pass a bill that would grant the President legislative line item veto authority.
Authorizes the President to rescind all or part of any discretionary budget authority or to veto any targeted tax benefit if the President determines that such rescission would help reduce the Federal budget deficit, will not impair any essential Government functions, and will not harm the national interest.
Requires the President to notify the Congress of such a rescission or veto by special message after enactment of an appropriations act providing budget authority or a revenue or reconciliation act containing a targeted tax benefit.
Requires the President to submit a separate special message for each appropriations act and for each revenue or reconciliation act.
Allows any member of Congress to bring an action against any provision of this Act for violating the Constitution.