NEWNow you can hearken to Fox Information articles!
What are you able to get for $9.4 billion?
3G Capital just lately bought footwear big Skechers for $9.4 billion.
$9.4 billion may cowl your lease for a fairly good condominium in New York Metropolis for greater than 40,000 years.
Sure, it should simply be you and the cockroaches by then.
Or, you may pay the price of each main catastrophe up to now 4 a long time – starting from Chernobyl to Fukushima to Hurricane Sandy.
‘LONG OVERDUE’: SENATE REPUBLICANS RAM THROUGH TRUMP’S CLAWBACK PACKAGE WITH CUTS TO FOREIGN AID, NPR
However $9.4 billion isn’t rather a lot when forged towards practically $7 trillion in annual spending by the federal authorities.
And it’s actually not a lot cash when you think about that the U.S. is about slip into the crimson to the tune of $37 trillion.
Which brings us to the Congressional plan to cancel spending. That’s, a measure from Republicans and the Trump Administration to rescind spending lawmakers already appropriated in March. The Home and Senate at the moment are clawing again cash lawmakers shoved out the door for the Company for Public Broadcasting and overseas support applications underneath USAID. The unique proposal minimize $9.4 billion. However that determine dwindled to $9 billion – after the Senate restored cash for “PEPFAR,” a President George W. Bush period program to fight AIDS worldwide.
In different phrases, you could have a pair thousand years lopped off out of your rent-controlled condominium in New York Metropolis. In fact that hinges on what Democratic mayoral nominee Zorhan Mamdani decides to do, ought to he win election this fall.
Anyway, again to Congressional spending. Or “un-spending.”
The Home handed the unique model of the invoice in June, 216-214. Flip one vote and the invoice would have failed on a 215-215 tie. Then it was on to the Senate. Republicans needed to summon Vice President Vance to Capitol Hill to interrupt a logjam on two procedural votes to ship the spending cancellation invoice to the ground and really launch debate. Republicans have a 53-47 benefit within the Senate. However former Senate Majority Chief Mitch McConnell, R-Ky., together with Sens. Lisa Murkowski, R-Alaska and Susan Collins, R-Maine, voted nay – producing a 50-50 tie.
Fox is informed some Senate Republicans are tiring of McConnell opposing the GOP – and President Trump – on varied points. That features the nay votes to begin debate on the spending cancellation invoice in addition to his vote towards the affirmation of Protection Secretary Pete Hegseth in January.
“He was the Chief. He was at all times telling us we have to stick collectively,” mentioned one GOP senator who requested anonymity. “Now he’s off voting nonetheless he needs? How time flies.”
Be aware that McConnell led Senate Republicans as just lately as early January.
However McConnell finally voted for the laws when the Senate authorized it 51-48 at 2:28 am ET Thursday morning.
Murkowski and Collins have been the one noes. The providers of Vice President Vance weren’t wanted as a result of McConnell’s aye vote and the absence of Sen. Tina Smith, D-Minn. She fell ailing and was admitted to George Washington Hospital for exhaustion.
As for the senior senator from Alaska, one GOP senator characterised it as “Murkowski fatigue.”
“She at all times asking. She’s at all times wanting extra,” groused a Senate Republican.
Murkowski secured an settlement on rural hospitals in alternate for her vote in favor of the Large, Lovely Invoice earlier this month. Nevertheless, Murkowski didn’t safe extra specificity on the DOGE cuts or assist with rural, public radio stations in Alaska on the spending minimize plan.
SENATE TO DEBATE TRUMP’S $9B CLAWBACK BILL AFTER DRAMATIC LATE-NIGHT VOTES
“My vote is guided by the crucial of coming from Alaskans. I’ve a vote that I’m free to forged, with or with out the assist of the President. My obligation is to my constituents and to the Structure,” mentioned Murkowski. “I do not disagree that NPR through the years has tilted extra partisan. That may be addressed. However you need not intestine the whole Company for Public Broadcasting.”
In a press release, Collins blasted the Trump administration for a scarcity of specificity concerning the precision of the rescissions request. Collins, who chairs the Senate Appropriations Committee accountable for the federal purse strings, additionally criticized the administration a couple of months in the past for a paucity of element within the President’s funds.
“The rescissions bundle has an enormous drawback – no one actually is aware of what program reductions are in it. That isn’t as a result of we haven’t had time to evaluate the invoice,” mentioned Collins in a press release. “As an alternative, the issue is that OMB (the Workplace of Administration and Finances) has by no means offered the main points that may usually be a part of this course of.”
Collins wasn’t the one Republican senator who frightened about how the administration offered the spending minimize bundle to Congress. Senate Armed Providers Committee Chairman Roger Wicker, R-Miss., fretted about Congress ceding the ability of the purse to the administration. However in contrast to Collins, Wicker supported the bundle.
Director of the US Workplace of Administration and Finances (OMB) Russell (Russ) Vought speaks to reporters exterior the West Wing of the White Home on July 17, 2025, in Washington, DC. (ANDREW CABALLERO-REYNOLDS)
“If we do that once more, please give us particular details about the place the cuts will come. Let’s not make a behavior of this,” mentioned Wicker. “If you happen to come again to us once more from the chief department, give us the particular quantities within the particular applications that shall be minimize.”
DOGE advisable the cuts. In truth, a lot of the spending reductions focused by DOGE don’t go into impact until Congress acts. However even the $9.4 billion proved difficult to chop.
“We must always be capable to do this in our sleep. However there’s wanting like there’s sufficient opposition,” mentioned Sen. Rand Paul, R-Ky., on Fox Enterprise.
So to court docket votes, GOP leaders salvaged $400 million for PEPFAR.
“There was a variety of curiosity amongst our members in doing one thing on the PEPFAR problem,” mentioned Senate Majority Chief John Thune, R-S.D. “You are still speaking a few $9 billion rescissions bundle – even with that small modification.”
The intention to silence public broadcasting buoyed some Republicans.
HOMELAND SECURITY HALTS $18.5M IN TAXPAYER FUNDS FOR ‘RADICAL’ PROGRAMS
“North Dakota Public Radio – about 26% of their funds is federal funding. To me, that is extra of an indictment than it’s a want,” mentioned Sen. Kevin Cramer, R-N.D.
However again to the $9 billion. It’s a fraction of one-tenth of 1 p.c of all federal funding. And DOGE advisable greater than a trillion {dollars} in cuts.
“What does this say for the social gathering if it may’t even cross this invoice, this piddling sum of money?” yours actually requested Sen. John Kennedy, R-La.
Senate Minority Chief Chuck Schumer, a Democrat from New York, arrives to talk to members of the media on the US Capitol in Washington, DC, US, on Thursday, July 17, 2025. Republicans are set to achieve their decades-long quest to finish federal funding for public broadcasting after the Senate handed a $9 billion bundle of cuts derived from Elon Musk’s Division of Authorities Effectivity effort. Photographer: Al Drago/Bloomberg through Getty Photos
“I believe we’ll lose a variety of credibility. And we must always,” replied Kennedy.
However the Home wanted to sync up with the Senate because it modified the invoice – stripping the minimize for AIDS funding. Home conservatives weren’t happy that the Senate was jamming them once more – simply two weeks after main renovations to the Home model of the Large, Lovely Invoice. However they accepted their destiny.
“It’s disappointing that we’re $37 trillion in debt. This to me was low-hanging fruit,” mentioned Rep. Eric Burlison, R-Mo. “On the finish of the day, I will take a base hit, proper? It is higher than nothing.”
White Home Finances Director Russ Vought is anticipated to ship different spending cancellation requests to Congress within the coming months. The intention is to focus on deeper spending reductions advisable by DOGE.
But it surely doesn’t auger properly for future rescissions payments if it’s this a lot of a battle to trim $9 trillion.
What are you able to get for that a lot cash? For Republicans, it’s not a lot.
CLICK HERE TO GET THE FOX NEWS APP
Republicans have been swinging for the fences with spending cuts.
However within the political field rating, that is recorded as only a base hit.
