• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Economy

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

by July 16, 2025
by July 16, 2025

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

0 comment
0
FacebookTwitterPinterestEmail

previous post
Inflated Worries: Don’t Sweat June’s Hot Prices
next post
Huckabee demands Israel ‘aggressively investigate’ murder of Palestinian-American killed in ‘terrorist act’

Related Posts

NATO ambassador says Europe ‘has a tendency to...

January 18, 2026

Democrat insider rips Mamdani bidet hopes for Gracie...

January 18, 2026

Khamenei calls Trump a ‘criminal,’ blames him for...

January 18, 2026

Former Iranian prisoners reveal torture horrors as regime...

January 18, 2026

Lindsey Graham speaks against pending execution of 26-year-old...

January 18, 2026

Trump announces escalating tariffs on Denmark and other...

January 18, 2026

Iran’s supreme leader acknowledges thousands killed as Trump...

January 18, 2026

US congressional delegation visits Denmark amid backlash over...

January 18, 2026

Top Iran prayer leader who dubbed protesters ‘Trump’s...

January 17, 2026

Trump launches phase 2 of Gaza peace plan...

January 17, 2026

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 Posts

  • US midday market brief: S&P 500 edges up, but losses loom after Trump’s Fed comments

    January 18, 2026
  • How weight-loss drugs are destroying big snacking, erasing billions in sales

    January 18, 2026
  • Analyst explains why Indian stocks may sell off after the budget announcement

    January 18, 2026
  • Why analysts are not impressed with Trump’s ‘Great Healthcare Plan’

    January 18, 2026
  • Why CEOs and CISOs are split on AI-driven cyber risk

    January 18, 2026
  • NATO ambassador says Europe ‘has a tendency to overreact’ over Greenland dispute

    January 18, 2026

Editors’ Picks

  • 1

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025
  • 2

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 5

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 6

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 7

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025

Categories

  • Economy (3,843)
  • Editor's Pick (409)
  • Investing (378)
  • Stock (2,577)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

Tariffs Tanked GDP, Not Imports

August 5, 2025

FLASHBACK: Musk accused Trump, GOP leaders of...

June 8, 2025

Economics of Gratitude: What New Yorkers Forgot...

November 10, 2025