Senate passes $9 billion in spending cuts to public broadcasting, foreign aid
The legislation, which now moves to the House, would have a tiny impact on the nation's rising debt but could have major ramifications for the Corporation for Public Broadcasting and US food aid internationally.
It also could complicate efforts to pass additional spending bills this year as Democrats and even some Republicans voice objections to broadly ceding congressional spending power with little idea of how the White House Office of Management and Budget would apply the cuts. The 51-48 vote came after Democrats sought to remove many of the proposed rescissions during 12 hours of amendment votes. None of the Democratic amendments were adopted. Here's the Latest: Republican senators caution Trump against firing Fed chair Jerome Powell.
Federal Reserve Chair Jerome Powell is gaining some key backing on Capitol Hill from GOP senators who fear the repercussions if Trump follows through with threats to try and remove the politically independent central banker. As Trump seemingly waffled back and forth this week on trying to dismiss the Fed chair, some Republicans in Congress began to speak up and warn that such a move would be a mistake. Trump would potentially obliterate the Fed's independence from political influence and inject uncertainty into the foundations of the US economy if he fires Powell.
'If anybody thinks it would be a good idea for the Fed to become another agency in the government subject to the president, they're making a huge mistake,' GOP North Carolina Sen. Thom Tillis said in a floor speech.
The measure of support from GOP members of the Senate Committee on Banking, Housing and Urban Affairs showed how traditional Republicans are carefully navigating a presidency in which Trump often flirts with ideas – like steep tariffs or firing the Fed chair – that threaten to undermine confidence in the US economy.
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