White House Office of Management and Budget Deputy Director Russ Vought penned an op-ed piece in the Wall Street Journal announcing the Trump administration's rescission package that is structured to cut $15.4 billion in spending this fiscal year.
It would cancel unspent money from previous years' children's health insurance and would have no effect on current programs, the official said.
To amend the damage, the Administration has made a decision to create a package of cuts that, among other things, may allow Trump to build his longed-for border wall.
The targeted cuts reportedly would cover money that is not being spent and would not have an effect on the CHIP program itself, an administration official said.
Senate Minority Leader Chuck Schumer of NY said in a statement the proposal was evidence that Trump and congressional Republicans "are looking to tear apart the bipartisan Children's Health Insurance Program (CHIP), hurting middle-class families and low-income children, to appease the most conservative special interests and feel better about blowing up the deficit to give the wealthiest few and biggest corporations huge tax breaks".
For their part, the Democrats will be at the juncture of making a decision about it since, for many of them, endorsing Trump's proposed cuts would win the trust of his voters in the November elections.
"Let's be honest about what this is: President Trump and Republicans in Congress are looking to tear apart the bipartisan Children's Health Insurance Program (CHIP), hurting middle-class families and low-income children", said Senate Minority Leader Chuck Schumer, D-N.Y. They are howling about the Republicans' proposed cuts.
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Democrats blasted the proposal.
Even if the $15 billion package is approved it would only have a tiny impact on the government's budget deficit.
$800 million from the Center for Medicare and Medicaid Innovation, which is in excess of the funds needed in fiscal years (FY) 2018 or 2019 and will receive a new appropriation of $10 billion in 2020.
The payback will be conducted under the President's authority to cancel budgeting previously provided by Congress, also known as rescission.
McCarthy wants to succeed soon-to-retire House Speaker Paul Ryan, R-Wis., and some of his allies view the project as a way to improve his standing with fractious GOP conservatives who blocked his path to the speakership in 2015.
"It's a modest first step", said GOP Representative Warren Davidson of OH, a member of the conservative House Freedom Caucus.