05/25/2010 - As part of what the White House called a campaign to crack down on wasteful government spending, President Obama on Monday asked Congress to grant him new powers to slice lawmakers' pet projects from congressionally approved spending bills.
Under the proposal, Obama and future presidents would have 45 days to comb legislation for pork-barrel projects they deem unnecessary and send a list of rescissions to Capitol Hill. Congress would then have 25 days to approve the entire list or reject it without changes.
To that list, others would add Obama's tax policies: A new report scheduled to be released Tuesday by the Pew Economic Policy Group found that Obama's plan to extend a series of middle-class tax cuts would add $2.3 trillion to the national debt over the next 10 years -- saving only about $800 billion compared with a GOP plan to extend the cuts for high-earners as well.
Read the full article, President Obama Seeks New Version of Line-Item Veto, on the Washington Post's Web site (requires registration).