Thomas Phippen, DCNF
White House economic advisor Larry Kudlow believes Republicans in Congress may have finally learned they need to reduce government spending after negative response to the latest $1.3 trillion government funding bill.
“I think the Republican Party on the Hill has finally figured out it’s really not a bad idea to trim some spending,” Kudlow said on “Fox News Sunday” with Chris Wallace. “Because after all, spending can lead to deficits and spending interferes with the economy.”
Republicans in Congress have campaigned for decades on trimming federal spending and reducing deficits, yet the last appropriations bill President Donald Trump signed into law in late March was the second-largest spending bill in U.S. history.
“We are looking at an enhanced rescission package,” Kudlow said Sunday, confirming reports the White House is working with congressional leaders to use an oft overlooked measure that allows the president to request a reduction in appropriations already approved by law.
Congress would have 45 days after the president’s formal request to approve the reduction in spending, but it’s not required to consider it at all.
“President Trump is a deregulator and a tax cutter. We want a much more modest government role,” Kudlow added. Trump threatened to veto the spending bill outright but relented and signed it after Defense Secretary Jim Mattis convinced him the increase in military funding was critical to rebuilding the armed forces.
Negotiators are targeting as much as $60 billion in cuts from the appropriations bill, according to Axios, but that may be too big of a reduction for even Republican congressmen to stomach.
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