Trump wants to slash $15B in spending, including on CHIP

President Donald Trump is calling on Congress to rescind more than $15 billion in previously approved spending, according to The Washington Post.

About $7 billion of the proposed cuts would come from the Children's Health Insurance Program. Of this, $5 billion is fiscal year 2017 funding that has expired, and $2 billion is from a contingency fund states can tap into if they're short on cash. A senior administration official said the CHIP rollbacks "will not impact the program," according to Politico. The rescission package would also cut $800 million from CMS Innovation, which was created under the ACA.

These are among the more than 30 programs the White House is proposing to Congress for "rescission," which involves pulling back funds that were previously authorized, according to The Washington Post.

If approved by Congress, the spending reductions would represent less than 0.4 percent of this year's total government spending.

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