President Donald Trump’s proposal to cancel $15 billion in federal spending is a big announcement. About $7 billion will get cut from the children’s health insurance program. The President will rely on a rare budget plan to relieve the deficit concerns presented by conservative Republicans.
The children’s insurance program targets the low-income families that receiving bipartisan support. According to white house officials, the safety net program for children will not get affected by the reduction in spending. The program benefits about 9 million.
The recession package has been finalized by the Trump administration after consulting with House Majority Leader Kevin McCarthy, Republican from California for weeks. The package will reduce billions which have been set aside by the Congress, but has not been used by the federal agencies.
This rescission proposal will be the single largest in the History of the United States. If the Congress approves the proposal, about 30 programs would get affected. The reduction would include a loan program of $ 4 billion, which has been projected to develop the vehicle technology but not been used since 2011.
The proposal recommends cutting back $107 million fund for providing technical assistance for Hurricane Sandy recovery approved in 2013, $250 million allotted for Ebola outbreak and unspent funds in the Affordable Care Act, etc.