Stimulating Leadership in Limiting Expenditures Act (or SLICE Act) of 2007 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to propose, at any time and in any manner provided in this Act, the rescission of any budget authority in an appropriation Act.
Prohibits funds made available for obligation under this procedure from being proposed for rescission again.
Sets forth requirements for: (1) the President's transmittal to Congress of a special message regarding a proposed rescission; and (2) expedited consideration of such proposal.