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"slashing the budget" is a grammatically correct and commonly used phrase in written English
It is used to describe the action of significantly reducing or cutting a budget. Example: The government announced that they will be slashing the budget for education, causing outrage among teachers and parents.
Exact(20)
"In slashing the budget in the way they are, there is no real pull for developing young talent.
He said the government had not helped by slashing the budget for its food waste agency in half.
Perversely, Congress has responded to the growing need for legal help by slashing the budget of the federal Legal Services Corporation.
The savings in central government would come from slashing the budget for consultancies by £270m in the first year and £770m thereafter.
Instead he has continued the damaging austerity that is slashing the budget for public services, hammering family finances and failing to revive the economy".
And a Romney spokesman tried to walk back the remark, claiming, "The governor's point was that simply slashing the budget, with no affirmative pro-growth policies, is insufficient to get the economy turned around".
Similar(39)
The report calls for more work by the National Institutes of Health and the Centers for Disease Control and Prevention, while Trump has proposed slashing the budgets of both organizations.
Democrats have in turn accused their GOP colleagues of slashing the budgets of public health agencies, thereby hampering their ability to respond to outbreaks.
Slash the budget!
They slashed the budget by $2.5bn.
Its successor has slashed the budget deficit, partly by increasing value-added tax by three points.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com