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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 He has sought to eliminate outdated and ineffective programs across the federal government, ending the debt spiral.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...