Tuesday, September 29, 2026
Biotech

White House Blocks Big Money, Funds Rescinded

The White House moves to stop $810 million in government money, sparking questions just before the fiscal year ends.

The White House is making a big move. It plans to stop $810 million from going out. This money was already approved by Congress. This action, called a "pocket rescission," draws concerns.

Government budgets run on a schedule. The fiscal year is ending soon. Blocking funds at this time changes plans for many agencies. These funds support many important projects and programs.

Some people say the White House does not have the power to do this alone. They say it needs Congress's full approval. This creates a debate over who controls government spending. For regular people, this means less money might go to programs they care about. It also shows a power struggle in Washington.

Source: CNBC

More from Biotech