Reclamation of War Powers Act This bill prohibits funds made available for the U.S. Armed Forces from being obligated or expended for their introduction into hostilities, or into situations where imminent involvement in hostilities is clearly indicated by the circumstances, in the absence of a declaration of war, specific statutory authorization, or a national emergency created by an attack or imminent threat of attack upon the United States, its territories or possessions, or the Armed Forces. Such funds may be obligated or expended for such introduction by reason of a national emergency created by such an attack or imminent threat only during the 60-day period beginning on such date of their introduction. It shall not be in order in the House of Representatives or the Senate to consider any bill or joint resolution that would make funds available in violation of these provisions. The President shall, in the case of a declaration of war or specific authorization for such introduction of the Armed Forces, submit to Congress a report on: an analysis of the threat to be countered by the use of the Armed Forces, the specific objectives and justification for such objectives to be achieved by their use, and a description of the scope and duration, cost, and likelihood of success of their use. The President shall report in the case of an introduction of the Armed Forces by reason of such a national emergency. The bill sets timetables for such reports.