POTUS Sends $15B Rescission Pkg. to Congress

President Trump feels the rescission package is an important tool to eliminate wasteful spending, and this measure will be the first of several rescission packages that focus on “unobligated balances.” (The Associated Press)  (AP2018)

President Trump feels the rescission package is an important tool to eliminate wasteful spending, and this measure will be the first of several rescission packages that focus on “unobligated balances.” (The Associated Press) (AP2018)

Rumor Control:

AP and Fox Report that the package was originally much larger but has been divided up into smaller increments that will be proposed to Congress over the coming months and involve cuts in spending appropriated in the Omnibus Bill recently signed. I have already seen headlines in MSM focused entirely on the CHIP cuts like children will starve now.

Quote: (Fox News)

The administration is trying to use its authority to prod Congress to rescind spending approved years ago, but even if the package is approved it would only have a tiny impact on the government’s budget deficit, which is on track to total more than $800 billion this year.

Some of the cuts wouldn’t affect the deficit at all since budget scorekeepers don’t give credit for rescinded money that they don’t think would have ever been spent.

More than $4 billion in cuts to a loan program designed to boost fuel-efficient, advanced-technology vehicles wouldn’t result in fewer loans since the loans are no longer being made. A total of $107 million worth of watershed restoration money from the 2013 Superstorm Sandy aid bill is going unused because local governments aren’t stepping up with matching funds. Another $252 million is left over from the 2015 fight against Ebola, which has been declared over.

Still, the cuts, if enacted by Congress, would take spending authority off the table so it couldn’t be tapped by lawmakers for other uses in the future. The catchall spending bill, for instance, contained $7 billion in cuts to CHIP that were used elsewhere to boost other programs.

“This is money that was never going to be spent,” a senior administration official said on a press call ahead of Tuesday’s submission. “The only thing it would be used for is offsets down the line.”

Read More at Fox News

This entry was posted in #RcWire.

One comment on “POTUS Sends $15B Rescission Pkg. to Congress

  1. Anonymous says:

    😀

    Like

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