If we do not find the will to reduce federal spending ourselves now, at some point economic reality will force us to do so in a much more painful manner later.
That is why this week's White House request for 38 spending rescissions totaling $15 billion in rescinded spending is such a welcome first step to bringing our out-of-control spending habit back in line.
A provision of the Budget and Impoundment Control Act of 1974, the rescission process established a set of rules that make it easier for the president and Congress to reduce previously appropriated federal spending.
First, the president must submit a rescission request to Congress, then the relevant committees have 25 days to act on the request before any member can discharge the request and force a floor vote.
Rescission motions are considered "Privileged" in the Senate, so both chambers can pass a rescission package by a simple majority.
In 1981, President Ronald Reagan used this process to request 133 separate rescissions to cut more than $15 billion in federal spending.
The rescission process has fallen out of use in recent years, with President Bill Clinton making just three rescission requests in 2000 for just $128 million.
https://www.dailysignal.com/2018/05/16/trumps-rescission-request-a-much-needed-first-step-to-restoring-budget-sanity/
That is why this week's White House request for 38 spending rescissions totaling $15 billion in rescinded spending is such a welcome first step to bringing our out-of-control spending habit back in line.
A provision of the Budget and Impoundment Control Act of 1974, the rescission process established a set of rules that make it easier for the president and Congress to reduce previously appropriated federal spending.
First, the president must submit a rescission request to Congress, then the relevant committees have 25 days to act on the request before any member can discharge the request and force a floor vote.
Rescission motions are considered "Privileged" in the Senate, so both chambers can pass a rescission package by a simple majority.
In 1981, President Ronald Reagan used this process to request 133 separate rescissions to cut more than $15 billion in federal spending.
The rescission process has fallen out of use in recent years, with President Bill Clinton making just three rescission requests in 2000 for just $128 million.
https://www.dailysignal.com/2018/05/16/trumps-rescission-request-a-much-needed-first-step-to-restoring-budget-sanity/
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