President Donald Trump reportedly will cut nearly $3 billion in emergency spending that had been included in the 2023 Fiscal Responsibility Act.

Then-President Joe Biden signed the legislation into law in June 2023. The law suspended the limit on federal debt through Jan. 1 of this year and made a number of changes that affected federal spending and revenues.

The legislation included a “side deal,” according to Semafor, that allowed for more than $12 billion in 2025 emergency spending.

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