defund
verb [ T ] US
US /ˌdiːˈfʌnd/ UK /ˌdiːˈfʌnd/
to stop providing money or as much money to pay for something:
She opposes any proposal to defund U.S. troops.
For years, community groups have advocated for defunding law enforcement – taking money away from police and prisons – and reinvesting those funds in services.
https://dictionary.cambridge.org/us/dictionary/english/defund