Stop Wasting American Tax Dollars Act or SWAT Act - Rescinds any unobligated discretionary appropriations awarded to a state or locality by the federal government that are voluntarily returned to it.
Excludes from such rescission any funds made available for a Department of Defense (DOD) or a Department of Homeland Security (DHS) account, program, or activity.
Requires such rescinded funds to be retained in the general fund of the Treasury for federal budget deficit reduction.
Applies this requirement in lieu of any provision of law that provides for the redistribution of funds awarded to a state or locality that remain unobligated by it.