That's the old way of thinking -- they're trying to do just that across the government and without some enforcement mechanism to make them send the checks, the practical result is that the President can indeed cancel pieces of legislation via impoundment.
Example 3 - CHIPS act would have had funding withheld if a Federal Court hadn't stepped in, but it's unclear what enforcement mechanism can force the funding to resume: https://archive.is/BxjHw
Example 1 - Trying to take $20 billion from Citi: https://thehill.com/policy/energy-environment/5161849-inflat...
Example 2 - The pause preempting the defunding of USAID: https://www.whitehouse.gov/presidential-actions/2025/01/reev...
Example 3 - CHIPS act would have had funding withheld if a Federal Court hadn't stepped in, but it's unclear what enforcement mechanism can force the funding to resume: https://archive.is/BxjHw