FXHedge|Sep 27, 2026 12:57
TRUMP ADMINISTRATION USES RARE AUTHORITY TO CLAW BACK NEARLY $1B IN SPENDING APPROVED BY CONGRESS
President Donald Trump is canceling nearly $1 billion in spending approved by Congress, the White House announced on Friday, using a rare and contested power to axe funding for immigrant services and diversity-focused initiatives.
Trump's Office of Management and Budget described the funding cut as focused on "the most harmful government spending."
Most of the cuts are focused on Health and Human Services programs that serve refugees and unaccompanied minors accused of being in the country illegally. The administration says the funds are no longer necessary because illegal border crossings have diminished considerably.
Full article:
https://economictimes.indiatimes.com/news/international/world-news/trump-administration-uses-rare-authority-to-claw-back-nearly-1b-in-spending-approved-by-congress/articleshow/134497473.cms
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