Trump Proposes to Cut $4.3 Billion in Foreign Aid

The Trump administration is proposing to eliminate more than $4 billion in unspent foreign assistance funds, Politico reported late Thursday.

The White House budget office reportedly sent a proposal to the State Department to cut $2.3 billion in unspent funds at the United States Agency for International Development and another $2 billion in unspent funds at the State Department. The cuts would hit the budget of the United Nations particularly hard and include the cancellation of $522 million in basic funding for the international organization, $787 million for peacekeeping activities, and $364 million for humanitarian and human rights programs.

The Trump administration is expected to formally submit the so-called rescission package next week. Congress will have 45 days to approve the rescissions, during which time the funds will be frozen; if lawmakers fail to approve the package, as expected, the money will be released. However, given that the fiscal year ends on September 30, the move could effectively cancel the funding, even if Congress does not approve the rescissions. Read Article Yahoo Finance