Trump Set to Unveil $15 Billion Spending Cut To Congress

Ben Kennedy
05-07-2018

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WASHINGTON – President Donald Trump is sending a historic rescission request for $15 billion to Congress on Tuesday.

“Over 1000 rescissions have been sent to congress under this authority,” said a Senior Administration Official. “This is the largest proposed by a President.”

The money comes from unused funds from places like the Innovative Tech Loan program, a railroad program that expired in 2012, excess funds from the 2015 Ebola outbreak and tech assistance after hurricane Sandy.

After Congress receives the rescission request the funds will be frozen for 45 days as lawmakers vote.

”The house is very interested in this package, we have been working very closely with them,” said the Senior Administration Official. “We expect them to move the package and then start a conversation with the Senate.”

Even if the package is approved, reports indicate the rescission would only have a small impact on the projected $800 billion government budget deficit.

The presidential rescission was used by both President Gerald Ford and President Bill Clinton but not by President Barack Obama or President George W. Bush.

 

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About The Author

Ben
Kennedy

Ben Kennedy is an Emmy Award-winning White House correspondent for CBN News in Washington, D.C. He has more than a decade of reporting experience covering breaking news nationwide. He's traveled cross country covering the President and scored exclusive interviews with lawmakers and White House officials. Kennedy spent seven years reporting for WPLG, the ABC affiliate in Miami, Florida. While there he reported live from Kingston, Jamaica, as Hurricane Matthew hit the island. He was the first journalist to interview Diana Nyad moments after her historic swim from Cuba to Key West. He reported
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