In the WSJ, Kimberly Strassel urges Trump to use the Impoundment Act of 1974 to cut the recent $1.3 trillion omnibus spending bill. This act was used by Reagan, with total savings of $25 billion. It’s a soft version of the line-item veto.
This is a fabulous idea. The cuts achieved might be small, but they’re a demonstration of the effectiveness of the LIV.
The items chosen for cuts should be the most outrageous examples of waste. They can be used to show what a real line-item veto could accomplish. You want to see how LIV would work? Here it is.
Let’s hope someone in the White House — Larry Kudlow –is paying attention.