Show Bridges fridges Sees Billion Cut CutIn CutIn CutIn In Old Appropriations WASHINGTON May 23 UP ASen A Sen Bridges CR R. R N. N H. H said Friday Friday Fri FrI- day dRY Republicans Int Intend nd to cancel Jn In appropriations voted by the last Jast Democratic controlled controlled con con- trolled tolled congress In the G 0 O P drive to cut 1948 federal spending at J least last ast below President President President dent Truman's estimate Bridges chal chairman of the senate appropriations committee told a 11 reporter a fund transfer transfer transfer trans trans- fer th the Rep Republicans got through congress Thursday by some fast financial footwork will help out out But he hc added the proposed 1000 cutback in Jn ol old will be needed to make the savings the senate has pledged I 1 believe we can clin show a reduction reduction reduction tion of under the presidents president's figure if we can hold the economy line on army navy agriculture and other appropriations that are coming along the Newt New Hampshire senator senator senator sena sena- tor said Economy Ax The old appropriations which the Republicans hope to cut represent money which the last Inot congress approved approved approved ap ap- ap- ap proved in Jn advance for tor actual spending In the year beginning July 1 The process of reclaiming some of this money for the treasury treasury treasury treas treas- ury already has hns been going forward forward for for- ward with several bills blUs carrying rescissions of the previous ap ap- ap- ap But Bridges did not specify which agencies les are to feel the blow of t the new e economy onomy ax The federal budget Is L based on actual payments made out of the treasury and thus does not always tally taUy with appropriations This Is because congress so sometimes met 1 m e s spreads the payments payment over more than one fiscal year On this expenditure basis bails the Republicans claimed they cut Mr Truman's budget an an additional l I I OO Thursday At that tha time congress without a s. word of f debate approved a routine deficiency deficiency deficiency appropriation bill providing provid- provid In ing ng U In funds for several several sev sev- eral government agencies to operate operate operate op op- erate the rest of ot this year Senate Rider Bider Tacked onto that measure how ever was an Inconspicuous senate rider directing the treasury to toJ J pay o off f Immediately in n Commodity Credit Corp notes The Ehe president had proposed that the treasury pay back into the C C Cs C's capital fund next year which It had borrowed in n order to make food subsidy payments payments payments pay pay- ments under the wartime program of ot holding prices down without penalizing farmers In approving that program congress congress congress con con- gress empowered the C C C to borrow borrow bor bor- borI I row from the treasury with the understanding that any loss oss would be e made up later by an tion The C C C issued notes to the treasury on these borrowings and andin andin in n his budget message massage to congress last ast January Mr Truman said the note cancellation would show as asan asan asan an an expenditure in general accounts i and a receipt in Jn corporation ac ae- ac- ac counts Thus he said the transaction will have no net effect on budget expenditures or on the appropriations lons recommended for 1948 I But Bridges disputed this rea- rea He contended the money h hI has been spent and must be made up out of regular appropriations S Since nce Mr Truman's budget messa message mes- mes sa sage age e was written however the C C C has reduced the amount of ot itS ts notes presumably through income income in- in come ome from its loan Joan and other farm op operations r It It was the amount still outstanding outstanding out- out standing that Bridges' Bridges committee with with senate and house concur concur- ordered rence-ordered ence ordered retired by June 30 |