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On Thursday, the United States House of Representatives narrowly passed the first rescissions package, which will eliminate billions in unnecessary spending by the federal government. The bill will now go to the Senate, where it requires only a simple majority to pass. This first rescissions package is said to cut $9.4 billion in spending.The House of Representatives passed President Donald Trump's $9.4 billion plan to claw back federal funds for foreign aid, PBS and NPR.The 214 to 212 vote was mostly along party lines, with no Democrats voting for the bill. Four Republicans voted against the measure, however – Reps....

The U.S. Congress has officially received a $9.4 billion rescission request from the White House — one that Republican House Speaker Mike Johnson said will eliminate billions of dollars in “wasteful foreign aid spending” at the State Department and U.S. Agency for International Development. “Under President Trump, every federal taxpayer dollar is actually being used to serve the American people, not to fund a bloated bureaucracy or purely partisan pet projects,” Johnson wrote on X. “We thank Elon Musk and his DOGE team for identifying a wide range of wasteful, duplicative, and outdated programs, and House Republicans are eager to...

WASHINGTON (AP) — The White House on Tuesday officially asked Congress to claw back $9.4 billion in already approved spending, taking funding away from programs targeted by Elon Musk’s Department of Government Efficiency.It’s a process known as “rescission,” which requires President Donald Trump to get approval from Congress to return money that had previously been appropriated. Trump’s aides say the funding cuts target programs that promote liberal ideologies. The request, if it passes the House and Senate, would formally enshrine many of the spending cuts and freezes sought by DOGE. It comes at a time when Musk is extremely unhappy...

Sen. Rand Paul (R–Ky.) is no newcomer to pointing out silly ways that the federal government wastes taxpayer dollars—like the time the National Institutes of Health spent over $300,000 to study whether quails got more frisky after being fed cocaine, which has been a staple of his speeches for years. So he's pretty thrilled to see the executive branch focused on cutting wasteful spending. "We've been pointing this out for a decade, but now we finally have an administration that's interested in it—they are canceling contracts, locking doors, firing people. There really is this disrupting force, and that's good," Paul...

President Trump on Sunday signed a $2.3 trillion COVID-19 relief and government funding bill that includes $600 stimulus checks for most Americans.

Washington has a spending problem. The national debt is now more than $21 trillion and the deficit could reach $1 trillion next year. Through his two budget requests to Congress, President Trump has proposed trillions of dollars in common-sense spending cuts. He has sought to eliminate outdated and ineffective programs across the federal government, ending the debt spiral. Among the fiscal tools at Mr. Trump’s disposal is Title X of the 1974 Congressional Budget and Impoundment Control Act. That law gives the president authority to propose rescinding specific funding previously approved by Congress. Because such “rescissions” require Congress to pass...

Checking the Congressional Budget Act of 1974 (Public Law 93–344, 88 Stat. 297, 2 U.S.C. §§ 601–688) online: Part B, Section 1011-1012 and related (identified elsewhere as Title X) within the Act (also known as the Impoundment Control Act of 1974), specifies that the President may request that Congress rescind appropriated funds. The timeline for approval by both the house and senate is 45 days.

The White House is seriously considering a strategy to cancel tens of billions of dollars of wasteful spending in the $1.3 trillion budget signed by President Donald Trump last month. It's a great idea, and Republicans should welcome a high-stakes budget showdown with congressional Democrats, given the unpopularity of the omnibus budget. Trump has a potent tool at his disposal to not spend money. It is called rescission authority -- a power created by the Congressional Budget and Impoundment Control Act of 1974. Here's how it works: The president submits a proposal to cancel unnecessary funds. Both chambers of Congress...

Plenty of Republicans remain bitter that their party passed that bloated $1.3 trillion omnibus—almost as bitter as President Trump, who felt pressured to sign it. But this fight doesn’t have to be over. Across Washington, principled conservatives are noodling with an idea that—if done right—could be a political winner. It’s a chance for Republicans to honor their promises of spending restraint and redeem themselves with a base turned off by the omnibus blowout. It’s an opening for the GOP to highlight the degree to which Democrats used the bill to hold the military hostage to their own domestic boondoggles. And...

Investors got a strong dose of sobering economic news Thursday as several key manufacturing indexes show that the recovery is losing steam. The few bright spots: New claims for jobless benefits fell to their lowest level in nearly two years, while wholesale inflation remained tame. Among the negative indicators reported Thursday, the New York Federal Reserve's "Empire State" general business conditions index fell almost 15 points to 5.08 in July, the lowest since December 2009. Also, industrial production edged up 0.1 percent in June, but manufacturing activity dropped amid fears that the economic recovery is stalling, the Federal Reserve said....

Sen. Obama fought the idea three years ago. But President Obama's White House urged Congress on Monday to give it new leverage to cut specific budget items. Budget Director Peter Orszag requested that Congress pass a bill giving President Obama "expedited rescission authority." Essentially, he would be able to force lawmakers to reconsider earmarks and other spending projects they had just approved.

President Barack Obama plans to ask Congress for a tool similar to a line-item veto that would let him single out new spending for cuts. The president will send to the Hill before the Memorial Day recess a proposal for "enhanced rescission authority," under which he could propose cuts to a spending measure within 45 days after signing it into law, an administration official said. Congress would then have to vote on the president's cuts as a package that couldn't be amended, the official said. The line-item veto sought by past presidents would have let them strip specific items from...

Executives of three of the nation's largest health insurers told federal lawmakers in Washington on Tuesday that they would continue canceling medical coverage for some sick policyholders, despite withering criticism from Republican and Democratic members of Congress who decried the practice as unfair and abusive. The hearing on the controversial action known as rescission, which has left thousands of Americans burdened with costly medical bills despite paying insurance premiums, began a day after President Obama outlined his proposals for revamping the nation's healthcare system. An investigation by the House Subcommittee on Oversight and Investigations showed that health insurers WellPoint Inc.,...

New Lawsuit Alleges Pacificare Set Course Of Deception To Avoid Claims and Cancel Policy of 34 Year Old Kidney Cancer Patient To Increase Company Profits.Irvine, CA (PRWEB) November 18, 2006 -- UnitedHealth Group, the nations second largest health insurer, and its subsidiary Pacificare of California were named in a lawsuit yesterday for canceling the health insurance policy and refusing to pay medical bills after a cancer patient sought treatment. (D'ANNA vs PACIFICARE OF CALIFORNIA #GIN057028) The lawsuit was filed in the Superior Court of San Diego by attorneys Robert K. Scott and Scott Mahoney of the Irvine-based Law Offices of...