President Trump is expected to release a $4.8 trillion budget Monday that charts a path for a potential second term, proposing steep reductions in social-safety-net programs and foreign aid and higher outlays for defense and veterans.
Democrats signaled their opposition later Sunday to the administration's budget plan, which Rep. John Yarmuth, chairman of the House Budget Committee, called "Destructive and irrational."
The budget plan assumes the $1.5 trillion tax-cut package enacted in 2017, set to expire by 2025, is extended, and projects revenues in line with last year's proposal.
The federal budget deficit would shrink to $966 billion next year from an estimated $1 trillion in 2020, but more than twice what Mr. Trump projected in his first budget proposal in 2017.
SHARE YOUR THOUGHTS. Are you surprised by any of the proposals in the Trump administration's 2020 budget plan? Join the conversation below.
Though Trump budget officials have pushed for spending cuts to reduce deficits, the president has reached two agreements with congressional Democrats to boost spending above limits set in 2011.
Under Mr. Trump's plan the budget of the Department of Veterans Affairs would rise 13% next year, and the Department of Homeland Security's 3%. The National Nuclear Security Administration's budget would get a 19% boost.
https://www.wsj.com/articles/trump-to-propose-4-8-trillion-budget-with-big-safety-net-cuts-11581274525?mod=hp_lead_pos2
Democrats signaled their opposition later Sunday to the administration's budget plan, which Rep. John Yarmuth, chairman of the House Budget Committee, called "Destructive and irrational."
The budget plan assumes the $1.5 trillion tax-cut package enacted in 2017, set to expire by 2025, is extended, and projects revenues in line with last year's proposal.
The federal budget deficit would shrink to $966 billion next year from an estimated $1 trillion in 2020, but more than twice what Mr. Trump projected in his first budget proposal in 2017.
SHARE YOUR THOUGHTS. Are you surprised by any of the proposals in the Trump administration's 2020 budget plan? Join the conversation below.
Though Trump budget officials have pushed for spending cuts to reduce deficits, the president has reached two agreements with congressional Democrats to boost spending above limits set in 2011.
Under Mr. Trump's plan the budget of the Department of Veterans Affairs would rise 13% next year, and the Department of Homeland Security's 3%. The National Nuclear Security Administration's budget would get a 19% boost.
https://www.wsj.com/articles/trump-to-propose-4-8-trillion-budget-with-big-safety-net-cuts-11581274525?mod=hp_lead_pos2
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