• 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

Bigger Isn’t Better: A Case for Downsizing the...

March 20, 2026

What 122 Universal Basic Income Experiments Actually Show

March 20, 2026

Interest Rate Caps Keep Coming Back — Bastiat...

March 19, 2026

Congress Knows It Has a Spending Problem, But...

March 19, 2026

Free Speech in the Digital Age: From Natural...

March 18, 2026

Reflections on Saturday Morning TV—and The Regulations That...

March 18, 2026

Monetary Policy Rules Suggest Fed Should Hold Steady...

March 17, 2026

Can Immigration Address America’s Fiscal Nightmare? It Depends

March 17, 2026

The Long Shadow of COVID School Closures

March 17, 2026

Fed Officials Face Diverging Mandates

March 16, 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

  • Nikkei crashes 2,000 points, Kospi sinks 6% as Asian markets plunge

    March 23, 2026
  • FTSE 100 Index futures enter correction as top UK shares plunge

    March 23, 2026
  • Can Iran trigger a US bond market shock? Wall Street is on edge

    March 23, 2026
  • Meta builds CEO AI agent: are managers about to be replaced?

    March 23, 2026
  • NYC’s LaGuardia shut after runway crash: how far will delays ripple?

    March 23, 2026
  • Air Canada stock faces turbulence as headwinds rise: what next?

    March 23, 2026

Editors’ Picks

  • 1

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

    March 26, 2025
  • 2

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

    February 23, 2025
  • 3

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

    February 21, 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
  • ‘The Value of Others’ Isn’t Especially Valuable

    April 17, 2025
  • 6

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

    February 20, 2025
  • 7

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

    March 1, 2025

Categories

  • Economy (4,454)
  • Editor's Pick (570)
  • Investing (879)
  • Stock (2,848)
  • 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

Charlie Kirk assassination sparks bipartisan uproar over...

September 11, 2025

Blinken claims Trump’s Gaza ceasefire deal drew...

October 14, 2025

‘Dr. Strangelove with a mustache’: Bolton blasted...

August 27, 2025