Trump cancels $5 billion in foreign aid - "Bypasses" Congress and cuts funding for 15 international programs
US President Donald Trump has taken unilateral action to cancel $4.9 billion in foreign aid authorized by Congress, escalating a clash over control of the country's spending. Trump told the Speaker of the House of Representatives that he plans to halt funding for 15 international programs.
The U.S. Constitution gives Congress the authority to appropriate funds, which passes legislation each year to fund government operations. If the White House doesn't want to spend those funds, it must secure congressional approval, as it did in July, when the body approved the cancellation of $9 billion in foreign aid and funding for public media.
Trump's latest move bypasses Congress entirely. Administration sources have argued that the president could hold up funding for 45 days, which would extend the deadline until the end of the fiscal year, on September 30. The White House said the tactic was last used in 1977.
According to a court filing, the funds in question were intended for foreign aid, UN peacekeeping operations and democracy promotion efforts abroad. Most of these were managed by the U.S. Agency for International Development (USAID), which the Trump administration has cracked down on.
Democrats say the administration has frozen a total of more than $425 billion in funds. While most Republican lawmakers have stated that they support spending cuts in any form, even if it weakens the authority of Congress.
But some have acknowledged that the action is illegal. “The proper way is to identify means to reduce excessive spending through the annual, bipartisan process of allocating funds,” they say.
China and Russia Discuss Creating a New Global Order - Leaders Criticize Western System, Propose More Balanced Approaches
Chinese President Xi Jinping urged leaders at a regional summit to tap their "giant market." Russian President Vladimir Putin also expressed support for Xi's......
"The fall of any government in the eurozone would be worrisome" - ECB President warns of consequences for the French economy
France is not currently in a situation that would require the intervention of the International Monetary Fund (IMF), but any risk of the collapse of a......
Greek businesses double their use of AI - But lag behind the European average
Greek businesses are taking artificial intelligence tools more and more seriously, although they still have some way to go in terms of automating operations......
Migrants sent more money to Kosovo - 654 million euros in remittances in the first half of the year
Migrants sent more money to their families in Kosovo during the first half of the year. According to Central Bank data, remittances for this period were......
Tourism continues to "inspire" lending/ Significant increase in loans in the accommodation and food service sector
The tourism sector in Albania is showing vitality, reflecting increased confidence by private businesses in its long-term potential. The latest data from the......
Gender inequality in wages decreases/ In the construction and real estate sector, the gap is in favor of women
According to data from INSTAT, men are paid an average of 4.9% more than women, indicating a significant difference in financial compensation. However,......
Albanians in 2024 worked less than a year ago/ But the 5-hour difference with the European Union remains strong
Albanians in 2024 worked less than a year ago, but still significantly more than Europeans. The latest data shows that the average weekly working hours in......
Businesses prefer to save in euros - BoA: They grew by 3.7% in July. Transferable ones, in record amounts
Euro deposits have also increased significantly for businesses. According to data from the Bank of Albania, around 283 billion lek were business deposits in......
