And you thought you had just figured out what "reconciliation" means in Congressional budget terms.

Here’s a new vocabulary term: rescissions.

You might not be able to spell it. But I can tell you what it does.

A "rescissions" bill "rescinds" money which Congress has already allocated, ex post facto.

For simplicity, I often describe rescissions legislation as "spending cancellations." Congress appropriated money. Then, under a recissions bill, Congress claws back dollars it previously appropriated. It’s kind of like a reverse appropriation.

And you thought that in elementary school, there were no takebacks.

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Presidential administrations send "budget requests" to Congress. This is the opposite. An administration can send a "recissions request" to Congress, too. And that’s what Budget Director Russ Vought is doing this week.

House Speaker Mike Johnson, R-La., is intent on moving fast.

"I'd like to turn it around as quickly as possible," said Johnson. "There may be multiple rescissions packages coming and we’ll process them as quickly as we can. It’s a big priority for me."

Congressional conservatives and Elon Musk were not pleased with the relative paucity of spending cuts in the Big, Beautiful Bill.

Musk told CBS he was "disappointed" in the legislation.

"Which increases the budget deficit, not decreases it. And it undermines the work that the DOGE team is doing," said Musk about the hallmark of President Trump’s agenda.

By Tuesday morning, the world’s richest man incinerated the bill on X and chastised most Republicans in Congress.

Musk characterized the legislation as "a disgusting abomination." He lectured the 215 House Republicans who voted yes, declaring "you know you did wrong."

SCOOP: HOUSE FREEDOM CAUCUS DRAWS BATTLE LINES AS WHITE HOUSE READIES $9.4B DOGE SPENDING CUTS

DOGE initially set a goal of unearthing $2 trillion in spending cuts. It then slashed the threshold to $1 trillion. DOGE finally homed in on about $150 billion in cuts by the end of next year. And many of those cuts aren’t even in effect because Congress has the power of the purse.

That’s where Congress comes in with a potential rescissions package.

Most Republicans are appreciative of the efforts by DOGE and Musk.

"I think this is the beginning and the whole conversation in Congress is changed because of it," said Rep. Mike Flood, R-Neb., on Fox.

But DOGE evaluated "discretionary" spending. Congress has the "discretion" to spend or not spend certain money each year. That comes through the annual appropriations process. That’s why GOPers are now using their "discretion." They intend to unwind some of that spending with a rescission plan.

But the largest percentage of federal spending – by about two to one – is tied to entitlements like Medicare, Medicaid and Social Security, plus interest on the debt. That spending is called "mandatory." House Republicans tried to address that slightly in the Big, Beautiful Bill since it dealt with Medicaid spending. But cuts to federal departments lie in the appropriations realm and falls on the discretionary side of the ledger.

However, discretionary cuts via the Big, Beautiful Bill weren’t going to happen.

"Much of what DOGE has looked at is the discretionary spending," said Flood. "This is far more complicated than just doing it in reconciliation."

WHITE HOUSE SENDING $9.4 BILLION DOGE CUTS PACKAGE TO CONGRESS NEXT WEEK

And so here we are, with Republicans in Congress looking at the first major rescissions plan since 1993.

"The House Freedom Caucus strongly supports these critical rescissions, and we will support as many more rescissions packages the White House can send us in the coming weeks and months," said the Freedom Caucus in a statement. "There is no excuse for a Republican House not to advance the first DOGE rescissions package the same week it is presented to Congress then quickly send it for passage in the Republican Senate so President Trump can sign it into law."

The law requires the president to spend money which Congress approves. However, there are some loopholes where a President can "impound" money and not spend it.

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On CNN, Vought suggested that the Impoundment Control Act of 1974 "allows for a procedure called pocket rescissions later in the year to be able to bank some of these savings without the bill actually being passed."

Vought signaled that President Trump would likely lean on that tool. But he wants to start with an initial rescissions request.

A recissions plan requires a simple majority to pass the House. And, believe it or not, a simple majority in the Senate. There’s no 60-vote requirement to break a filibuster. Moreover, the "motion to proceed" to start debate on a recessions package is "privileged." That means the Senate only needs 51 votes to begin the process. Many "motions to proceed" in the Senate need 60 yeas and can be subject to a filibuster.

President Trump formally routed his recissions request to Capitol Hill on Tuesday. It aims to trim $9.4 billion dollars from public broadcasting and foreign aid programs. All of this is money which Musk targeted in his DOGE reviews. But these cuts only count if Congress approves them.

"I want make sure you take the first tranche and see if it passes," said Vought on the targeted set of proposed spending reductions. "The wider you do in terms of a package, the harder it is to pass. And if it doesn't pass, this is the real world. And we will lose flexibility that we have to use executive tools to find other ways to make the DOGE cuts permanent."

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Lawmakers are starting to process the rescissions proposal. Especially since Republicans often talk a good game about slashing spending.

"We'll see if Congress can step up to the plate," said Rep. Chip Roy, R-Tex., noting the political consequences of not green lighting the rescissions package. "(Members will have) to go campaign on why they want to continue to fund PBS, NPR, and a whole bunch of foreign policy and foreign funding that most Americans don't like. So you go explain it."

Rep. Don Bacon, R-Neb., represents one of the most-Democratic leaning districts in the country. He worries about the PBS and NPR cuts.

"I have a great rapport with Nebraska Public Radio and TV. I think they've been great to work with. And so that would be one I hope they don't put in," said Bacon.

Senate Appropriations Committee Chairwoman Susan Collins, R-Maine, flagged reductions to PEPFAR, short for the President’s Emergency Plan for AIDS Relief.

"I consider that to be possibly the most successful public health program that has ever been used in Africa and other parts of the world. So I do not support the reduction in PEPFAR," said Collins.

It’s unclear whether this opening bid to cut spending – minimal as it is – can make it through Congress. Lots of Republicans will sweat this. And these are just negligible cuts. Republicans extolled the work of DOGE. But if they want to eliminate spending, they have to put their vote where their favorite program is.

We’ll know more in a few weeks whether Republicans can approve the recissions package and rescind what some characterize as wasteful spending. Otherwise, they may need to rescind those campaign promises.

President Donald Trump's "Big, Beautiful Bill" is facing criticism, even from within his own party, as some lawmakers remain skeptical about the massive spending package and its potential impact on the nation's debt, despite it being under consideration by a Republican-controlled Congress.

The spending bill, which the House passed late last month and is now in the Senate’s hands, aims to address a number of issues, including tax policy, border security and immigration, defense, energy production, the debt limit, and adjustments to SNAP and Medicaid.

However, without a serious overhaul, lawmakers like Sen. Rand Paul, R-Ky., is still a "no" on the legislation because it will increase the nation's debt limit. He is among a group of at least four Republican senators who have expressed concerns over Trump's bill, because of the package's projected increase in the national debt.

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This week, Paul relayed his concerns to media members that the bill will raise the debt ceiling by $5 trillion. 

"We have never raised the debt ceiling without actually meeting that target," he said. "So you can say it doesn't directly add to the debt, but if you increase the ceiling $5 trillion, you'll meet that. And what it does is it puts it off the back-burner. And then we won't discuss it for a year or two."

As of Tuesday, the national debt, which measures what the U.S. owes its creditors, was $36.2 trillion, according to the Treasury Department. Trump pushed back on Paul's remarks about his bill. 

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"Rand Paul has very little understanding of the BBB, especially the tremendous GROWTH that is coming. He loves voting ‘NO’ on everything, he thinks it’s good politics, but it’s not. The BBB is a big WINNER!!!" Trump wrote on TRUTH Social.

Meanwhile, the national deficit, which occurs when the federal government’s spending exceeds its revenues, was $1 trillion as of Tuesday, according to Treasury Department data. 

On Tuesday, White House press secretary Karoline Leavitt said the "blatantly wrong claim that the ‘One, Big, Beautiful Bill’ increases the deficit is based on the Congressional Budget Office and other scorekeepers who use shoddy assumptions and have historically been terrible at forecasting across Democrat and Republican administrations alike."

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The outlook for the federal debt level is bleak, as FOX Business previously reported, with economists increasingly sounding the alarm over the torrid pace of spending by Congress and the White House. 

Under the terms of the bill, the bill would add over $2 trillion to budget deficits over a decade, according to a recent analysis by the nonpartisan Congressional Budget Office (CBO).

All together, the tax cuts and reforms in the package add nearly $3.8 trillion to the deficit over a decade – though spending reductions in other parts of the bill offset some of that to arrive at the $2.3 trillion figure.

Elon Musk, who ended his tenure last week as Trump’s lead in the Department of Government Efficiency (DOGE), doubled down on his position Tuesday that the House’s reconciliation package was an "abomination."

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"I’m sorry, but I just can’t stand it anymore," Musk posted on X Tuesday. "This massive, outrageous, pork-filled congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it."

The Trump administration and some congressional Republicans have pushed back on the estimates of the bill, also known as the One Big Beautiful Bill Act, and its impact on the deficit, arguing that economic growth from the tax cuts will stimulate economic activity and lead to more tax revenue than what is projected.

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"Hope it does a lot to get some further cuts," Rep. Scott Perry, R-Pa., told Fox News about the bill. "We don't want to bankrupt the country. And what Elon also should recognize is we don't need more solar and EV credits. That actually makes it worse. He probably knows that, though."

To push back on the criticism, the White House launched a website where Americans can tabulate how much the bill will personally save them.

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The House passed the One Big Beautiful Bill Act on May 22 with a narrow 215-214-1 vote that went largely along party lines.

If that version of the bill is revised by the Senate, the legislation will have to go back to the House for another vote before it can go to Trump's desk and become law.