Can Trump Cut Last Year’s Spending? | Richard Stern
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Can Trump Cut Last Year’s Spending? | Richard Stern
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Rescissions
It’s a word that we’re hearing a lot in the news today. A member of a family of words and phrases that come trotting out whenever folks in Washington start talking about money.
Appropriations. Sequestration. Omnibus. Continuing Resolutions. Budget caps. Debt Ceiling. Earmarks. Baseline Budgeting.
But it isn’t that complicated. Basically, the President can request that Congress return money that has been appropriated, but not yet spent.
A rescissions package is making its way through Congress now, but it’s likely we’ll hear more about this process throughout the Trump administration. Here to explain why is Richard Stern, Director for the Center for the Federal Budget here at the Heritage Foundation.
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