Rep. McCarthy Introduces President’s Rescission Package
On May 9, House of Representatives Majority Leader Kevin McCarthy (R-CA) introduced HR 3, the “Spending Cuts to Expired and Unnecessary Programs Act.” The legislation is President Trump’s rescission proposal that was sent to the House a day earlier.
Upon introducing the bill, Rep. McCarthy said, “President Trump has submitted to Congress a package of spending cuts to expired or unnecessary programs and Congress is prepared to act on those rescissions. Returning this money to the treasury is the type of budgetary spring-cleaning that ensures our government practices prudence with hard-earned taxpayer dollars. Through the Impoundment Act, Congress will once again use a creative tool to address the challenges facing our country and put our fiscal and economic footing on more solid ground.”
As expected, the legislation includes almost $40 million in rescinded funds from the Public Housing Capital Fund (see 5/8/2018 CLPHA Update). CLPHA was informed by HUD officials that pending program competitions and awards funded under the Capital Fund, such as Jobs Plus, will be suspended until the outcome of the rescissions is known.
The rescissions bill is expected to bypass the normal Appropriations Committee process, with the Republican leadership fast-tracking the bill and allowing it to go directly to the House floor for a vote.