Stimulating Leadership in Cutting Expenditures Act of 2005 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to transmit to Congress, by specified dates, a special message proposing to rescind amounts of budget authority provided in: (1) the Transportation Equity Act: A Legacy for Users (P.L. 109-59); or (2) an appropriation Act enacted before January 1, 2006, in order to offset amounts appropriated or expected to be appropriated in connection with natural disasters occurring during calendar year 2005.
Prescribes procedures for expedited consideration of such proposed rescissions.
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