US elections: Musk wants $2 trn cut from federal budget. It'd be difficult

Quick Summary:

His target exceeds the amount Congress spends annually on govt agency operations, including defence.

In the Senate, it takes just a simple majority to cut mandatory federal spending programs other than Social Security.

Trump has since said, however, that he would seek to shrink spending by impounding funding approved by Congress, challenging a 1974 law limiting the president’s authority to withhold appropriated funds.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Elon Musk US presidential elections US Budget Donald Trump Federal budget US elections

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 07:57:32 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 570 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23315515

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Main Topics: BusinessFinance

Official Website: business-standard.com

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Year Established: 1975

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News Last Updated: 3 hours ago

Coverage Areas: India

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