The Financial Horizons
No Result
View All Result
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
  • Latest News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
  • Latest News
No Result
View All Result
The Financial Horizons
No Result
View All Result
Home Latest News

Trump’s $9 billion clawback passes first Senate test, while more hurdles await

by
July 16, 2025
in Latest News
0
Trump’s $9 billion clawback passes first Senate test, while more hurdles await
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

President Donald Trump’s clawback of billions in funding for foreign aid and public broadcasting narrowly passed through its first hurdle in the Senate, but it still faces a rocky road ahead with dissent among the Senate GOP ranks.

Senate GOP leaders hoped that an agreement to carve out $400 million in global HIV and AIDS prevention funding will get some of the holdouts on board. However, doing so shrank the expected cuts from $9.4 billion to $9 billion.

But a trio of Senate Republicans joined with all Senate Democrats to vote against advancing the bill from the Senate Appropriations Committee, which required Vice President JD Vance to cast the deciding vote. 

Trump’s rescissions package would yank bank congressionally approved funding for foreign aid programs and public broadcasting. But some Senate Republicans have sounded the alarm and want changes made to the bill before it reaches the finish line.

The bill that advanced out of committee Tuesday includes just shy of $8 billion in cuts from the U.S. Agency for International Development (USAID), and over $1 billion from the Corporation for Public Broadcasting (CPB), the government-backed funding arm for NPR and PBS.

Republicans’ successful test vote comes after huddling with Office of Management and Budget Director Russ Vought, who worked to shore up support and apply pressure from the White House to get the ball rolling on the bill.

‘We’re fine with adjustments,’ Vought said. ‘This is still a great package, $9 billion, [it’s] substantially the same package, and the Senate has to work its will.’

While concerns were still raised about other aspects of the spending cuts package during the closed-door meeting, Senate Majority Leader John Thune, R-S.D., believed that carving out the cuts to Bush-era President’s Emergency Plan for AIDS Relief (PEPFAR) helped ease concerns among lawmakers.

But the changes didn’t sway all Senate Republicans. Sen. Lisa Murkowski, R-Alaska, bluntly said ‘no’ when asked if the PEPFAR carveout helped gain her support and argued, ‘I’d like to do some legislating.’ 

‘What a crazy thing, what a crazy thing,’ she said. ‘What have we been doing around here? We did a reconciliation bill. We’re doing a rescissions bill. We’re doing nominations. Nominations are important, but let’s, like, legislate.’

And Sen. Susan Collins, R-Maine, said she liked the changes but ultimately decided to vote against advancing the bill through its first hurdle.

Sen. Mitch McConnell, R-Ky., also joined in to vote against the bill. Fox News Digital reached out to his office for a statement on his decision to vote against the package. 

It now moves to yet another procedural vote, which, if successful, will open up 10 hours of total debate time on the bill and eventually set the stage for a vote-a-rama, where lawmakers on either side of the aisle can offer an unlimited number of amendments to the package.

But, House Speaker Mike Johnson, R-La., made clear that he would prefer the Senate not make any changes to the bill.

However, that request already fell on deaf ears — as it did during the budget reconciliation process that unfolded in the upper chamber last month.

Those demands already have fiscal hawks in the House grumbling, but like the budget reconciliation process before it, an amended rescissions package will likely glide through the House GOP and onto Trump’s desk. 

This post appeared first on FOX NEWS
Previous Post

National security experts raise concerns after Microsoft program exposed as possible avenue for Chinese spying

Next Post

Huckabee demands Israel ‘aggressively investigate’ murder of Palestinian-American killed in ‘terrorist act’

Next Post
Huckabee demands Israel ‘aggressively investigate’ murder of Palestinian-American killed in ‘terrorist act’

Huckabee demands Israel ‘aggressively investigate’ murder of Palestinian-American killed in ‘terrorist act’

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Japan calls axis of China, Russia, North Korea the ‘gravest threat’ to global order since WWII

    Japan calls axis of China, Russia, North Korea the ‘gravest threat’ to global order since WWII

    July 16, 2025
    Congress considers permanent national park fee increase for international visitors

    Congress considers permanent national park fee increase for international visitors

    July 16, 2025
    RFK Jr. fires 2 top aides at HHS in staff shakeup

    RFK Jr. fires 2 top aides at HHS in staff shakeup

    July 16, 2025
    Inflation picks up again in June as tariffs slowly work their way through U.S. economy

    Inflation picks up again in June as tariffs slowly work their way through U.S. economy

    July 16, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: Thefinancialhorizons.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 thefinancialhorizons.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Editor’s Pick
    • Latest News

    Disclaimer: Thefinancialhorizons.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 thefinancialhorizons.com | All Rights Reserved