US Ambassador to the United Nations Nikki Haley on Sunday night announced a reduction in the UN biennial operating budget.
Haley said the plan calls for a $285 million cut for the 2018-19 financial year.
"The inefficiency and overspending of the United Nations are well known. We will no longer let the generosity of the American people be taken advantage of or remain unchecked," Fox News quoted Haley as saying.
The UN budget now covers a two-year period, beginning in January of an even-numbered year.
Haley added, "This historic reduction in spending - in addition to many other moves toward a more efficient and accountable UN - is a big step in the right direction."
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The US pays about 22 per cent of the UN's budget, or roughly 3.3 billion dollars, and fully 28 per cent of its peacekeeping effort.
Earlier, President Donald Trump had also threatened to cut off financial aid to countries that vote in favour of the UN draft resolution.
The US has vetoed an Egyptian-drafted UN Security Council resolution that called on countries not to establish diplomatic missions in Jerusalem.
The final tally was 128-9, with 35 nations abstaining, including five members of the European Union.