(CNSNews.com) – Congressional Republicans may try to undo some of the spending they just approved in the $1.3 trillion omnibus bill, Senate Majority Leader Mitch McConnell (R-Ky.) indicated on Tuesday:
“Well it's - it's no secret that the omnibus bill was larger than most Republicans would like. But it was a bipartisan negotiation. The number we were fixated on was the defense number, we got what we wanted,” McConnell said.
“The Democrats had their demands, and it was a bipartisan agreement. Having said that, I'm willing to discuss with the administration the possibility of some kind of rescissions package. I think it's worth a discussion. Whether that's achievable is another matter, but certainly worth discussing.”
According to the U.S. Senate, “rescission” is the cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the president may propose to Congress that funds be rescinded. Both chambers must approve a rescission proposal (by passing legislation) within 45 days of continuous session for it to take effect.
The word “rescission” surfaced two days ago on “Fox News Sunday,” when host Chris Wallace asked President Trump’s new chief economic adviser Larry Kudlow if Trump is considering a rescission proposal:
“It's playing in the White House,” Kudlow replied. “My friend, OMB Director Mick Mulvaney, he and I are on -- I'm an ex-OMB guy. I feel his pain.
“We are looking at an enhanced rescission package,” Kudlow confirmed. “I'm not going to use numbers. This is all around town.
”I think the Republican Party on the Hill has finally figured out, it’s really not a bad idea to trim some spending because, after all, spending can lead to deficits and spending interferes with the economy. And President Trump is a deregulator and a tax cutter. So, we want a much more modest government role.”
McConnell told reporters on Tuesday that a balanced budget amendment is “something we ought to consider doing.”
“Most of my members think a balanced budget amendment would bring the kind of discipline that has been missing under administrations of both parties. And that's the kind of vote we're likely to see at some point,” McConnell added.