Financial Trade Freedom - Investing and Stock News
  • Investing
  • News
  • Editor’s Pick
  • Economy
  • Stock
  • Investing
  • News
  • Editor’s Pick
  • Economy
  • Stock
No Result
View All Result
Financial Trade Freedom - Investing and Stock News
No Result
View All Result
Home News

White House move to cancel $4.9B foreign aid with ‘pocket rescission’ blasted as illegal

admin by admin
August 29, 2025
in News
0
White House move to cancel $4.9B foreign aid with ‘pocket rescission’ blasted as illegal
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Lawmakers on both sides of the aisle panned the White House’s move to cancel billions in foreign aid funding as illegal, and warned that it could have dire consequences on the fast-approaching deadline to fund the government.

The White House on Thursday notified Congress of the administration’s intent to cancel $4.9 billion in foreign aid funding through a ‘pocket rescission.’

‘Last night, President Trump CANCELED $4.9 billion in America Last foreign aid using a pocket rescission,’ the Office of Management and Budget (OMB) said on X. ‘[President Donald Trump] will always put AMERICA FIRST!’

The pocket rescissions package obtained by Fox News Digital includes cuts to a variety of foreign aid programs over several fiscal years that the administration argued did not comport with Trump’s agenda.  

Included are roughly $520 million in cuts to Contributions to International Organizations account, over $390 million in cuts to the Contributions for International Peacekeeping Activities account, $322 million from the Democracy Fund, $445 million from the Peacekeeping Operations account and over $3 billion from Development Assistance.

The rescissions process allows the president to make a request to Congress to cancel already approved funding within a 45-day period. Lawmakers successfully went through that exercise earlier this year when they approved $9 billion to be slashed from public broadcasting and foreign aid.

However, a pocket rescission is designed to skirt that 45-day window by coming so close to the end of a fiscal year that lawmakers wouldn’t have time to weigh in. And the White House’s maneuver is already giving Senate Republicans and Democrats heartburn.

Senate Appropriations Chair Susan Collins, R-Maine, said in a statement that the move was an ‘apparent attempt to rescind appropriated funds without congressional approval.’

She also argued that the Government Accountability Office found that under the Impoundment Control Act, the law that governs rescissions, this style of pocket rescission was illegal.

‘Any effort to rescind appropriated funds without congressional approval is a clear violation of the law,’ she said.

‘Instead of this attempt to undermine the law, the appropriate way is to identify ways to reduce excessive spending through the bipartisan, annual appropriations process,’ Collins continued. ‘Congress approves rescissions regularly as part of this process.’

Fox News Digital reached out to the OMB and the White House for comment but did not immediately hear back.

Lawmakers will also have to grapple with how the pocket rescissions will affect negotiations to keep the government open. Senate Minority Leader Chuck Schumer, D-N.Y., already warned that further attempts to claw back congressionally approved funding would be a bridge too far for Democrats.

Prior to the announcement, Schumer and House Minority Leader Hakeem Jeffries, D-N.Y., sent a letter to House Speaker Mike Johnson, R-La., and Senate Majority Leader John Thune, R-S.D., imploring both to meet with them to discuss the looming Sept. 30 deadline. 

In the letter, they specifically asked if more rescissions were coming.

Now, Schumer charged that the ‘unlawful ‘pocket rescission’ package is further proof President Trump and Congressional Republicans are hellbent on rejecting bipartisanship and ‘going it alone’ this fall.’

‘As the country stares down next month’s government funding deadline on September 30th, it is clear neither President Trump nor Congressional Republicans have any plan to avoid a painful and entirely unnecessary shutdown,’ Schumer said in a statement.

‘In fact, it seems Republicans are eager to inflict further pain on the American people, raising their health care costs, compromising essential services and further damaging our national security,’ he continued. 

This post appeared first on FOX NEWS

Previous Post

Abbott signs Texas redistricting map into law, securing major GOP victory ahead of 2026 midterms

Next Post

Lululemon stock crash: from a shining star to a fallen angel

Next Post
Lululemon stock crash: from a shining star to a fallen angel

Lululemon stock crash: from a shining star to a fallen angel

  • Trending
  • Comments
  • Latest
U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low

U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low

February 19, 2025
How Companies Use Derivatives To Hedge Risk

How Companies Use Derivatives To Hedge Risk

February 19, 2025
KFC moves U.S. headquarters from Kentucky to Texas

KFC moves U.S. headquarters from Kentucky to Texas

February 19, 2025
As Joann Fabrics and JCPenney announce store closings, here’s what’s driving the pattern

As Joann Fabrics and JCPenney announce store closings, here’s what’s driving the pattern

February 17, 2025
BlackRock to unveil £500m UK data centre investment during Trump’s visit: report

BlackRock to unveil £500m UK data centre investment during Trump’s visit: report

0
From tariffs to DOGE, what companies are saying about the impact of MAGA policies

From tariffs to DOGE, what companies are saying about the impact of MAGA policies

0
Tesla’s law firm drafts Delaware bill that could salvage Musk pay package

Tesla’s law firm drafts Delaware bill that could salvage Musk pay package

0
Coca-Cola takes on Olipop and Poppi with new prebiotic soda brand, Simply Pop

Coca-Cola takes on Olipop and Poppi with new prebiotic soda brand, Simply Pop

0
BlackRock to unveil £500m UK data centre investment during Trump’s visit: report

BlackRock to unveil £500m UK data centre investment during Trump’s visit: report

September 13, 2025
Oracle’s surge highlights OpenAI’s expanding market influence

Oracle’s surge highlights OpenAI’s expanding market influence

September 13, 2025
Tesla shareholder pushes board to invest in Elon Musk’s xAI

Tesla shareholder pushes board to invest in Elon Musk’s xAI

September 13, 2025
UniCredit CEO to sell Commerzbank stake outside EU if shareholders demand

UniCredit CEO to sell Commerzbank stake outside EU if shareholders demand

September 13, 2025

    Get Smarter with Your Money – Sign Up for Free Financial Tips!


    Join our community of savvy savers and investors! By signing up, you'll receive weekly emails packed with personalized financial tips, budgeting hacks, and investment strategies tailored to your income level. Take control of your finances today – it’s free and only takes a minute!

    Recent News

    BlackRock to unveil £500m UK data centre investment during Trump’s visit: report

    BlackRock to unveil £500m UK data centre investment during Trump’s visit: report

    September 13, 2025
    Oracle’s surge highlights OpenAI’s expanding market influence

    Oracle’s surge highlights OpenAI’s expanding market influence

    September 13, 2025
    Tesla shareholder pushes board to invest in Elon Musk’s xAI

    Tesla shareholder pushes board to invest in Elon Musk’s xAI

    September 13, 2025
    UniCredit CEO to sell Commerzbank stake outside EU if shareholders demand

    UniCredit CEO to sell Commerzbank stake outside EU if shareholders demand

    September 13, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: FinancialTradeFreedom.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 financialtradefreedom.com | All Rights Reserved

    No Result
    View All Result
    • About us
    • Contacts
    • Email Whitelisting
    • Investing and Stock News
    • Privacy Policy
    • Terms and Conditions
    • Thank you

    Disclaimer: FinancialTradeFreedom.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 financialtradefreedom.com | All Rights Reserved