On May 28, President Trump submitted “22 rescissions of budget authority, totaling $9.4 billion” to the U.S. Congress.
According to Office of Management and Budget Director Russell Vought, the rescission package will “cut wasteful foreign assistance spending at the Department of State and USAID” and “a public media system that is politically biased and is an unnecessary expense to the taxpayer.”
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If Congress passes the recission package, Vought notes it “would have a commensurate effect on the Federal budget deficit and the national economy, and would result in less borrowing by the Federal Government.”
Under the law, Congress has a 45-day window to pass the rescission package. So, time is ticking.
As of now, it looks like the package will pass, which is generally good news.
However, there remains work to be done as the Senate voted to preserve $400 million. Now, the $9 billion version must be passed by the