NEW YORK: President of the United States Donald Trump will reduce previously allocated emergency budget expenditures by nearly $3 bln, wit...
NEW YORK: President of the United States Donald Trump will reduce previously allocated emergency budget expenditures by nearly $3 bln, with $2.5 bln of that amount intended for foreign aid, Semafor news portal reported citing sources within the White House.
According to these sources, Trump will scale back funds designated as emergency spending under the debt ceiling legislation of 2023, enacted by the administration of former US President Joe Biden.
The portal stated that around $2.5 bln, which Trump intends to cut, was allocated for foreign aid, including support for non-governmental organizations dealing with migration and refugees, economic development initiatives in Moldova, and Georgia, as well as projects related to inclusivity. However, these measures will not affect military assistance to allies, including Ukraine.
One government official told the news portal that part of the foreign aid funding did not undergo rigorous scrutiny and was not well thought out. The remaining approximately $9.4 bln in emergency funding stipulated by the 2023 legislation will remain untouched, Semafor reported.
Immediately following the inauguration of US President Donald Trump on January 20, the country’s authorities launched a large-scale review of federal budget expenditures. According to statements by entrepreneur Elon Musk, who leads the US Department of Government Efficiency, he aims to reduce Washington’s government spending by $2 trillion. The US national debt currently exceeds $36.5 trillion. According to estimates by the Congressional Budget Office, the national debt could surpass $50 trillion by 2034.
-News Feed
COMMENTS