Story highlights Congressional GOP members are prepping legislation to reduce or do away with funding

The move was triggered by last month's Security Council vote condemning Israeli settlements

(CNN) Congressional Republicans are prepping legislation to slash US funding to the United Nations, saying it's the right response following last month's Security Council vote condemning Israeli settlements.

The conservative House Freedom Caucus will meet Monday to discuss whether to move forward with efforts to reduce funding to the world body or to require Congress to reauthorize the spending every two years or it will cease.

Last month, the UN General Assembly raised the organization's 2016-2017 budget to $5.6 billion from $5.4 billion. The US is currently the largest contributor, with its funding making up 22% of the UN's budget . Japan follows at 9.68% and China at 7.92%.

The move to slash US funding to the UN by congressional Republicans was triggered by the Obama administration's decision to abstain from a Security Council vote earlier this month that declared Israeli settlements in the West Bank and East Jerusalem illegal. Without the US veto, the Security Council passed the measure.

Oklahoma Rep. Jim Bridenstine is developing the legislation, according to Buzzfeed , which first reported the story.

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