Monday, February 10, 2020

'Shrink' government: Trump's budget reduce spending by $4.4 trillion, make 2017 tax cuts permanent

AP Photo/Manuel Balce Ceneta
President Trump is proposing to balance the federal budget within 15 years, “shrink” the federal government and extend food-stamp work requirements to Medicaid and housing programs in a new $4.8 trillion spending plan being released Monday, reducing spending by $4.4 trillion equally from discretionary and mandatory programs such as Medicare over the next decade.
The plan also includes $2 billion for the border wall, with officials saying the administration is approaching 80% of the money needed to eventually finish the wall.
The president’s budget for fiscal 2021 would cut foreign aid by 21% and reduce the Environmental Protection Agency’s funding by 26%, while targeting the Education Department for smaller cuts.
Among the agencies receiving spending increases would be the Department of Homeland Security (up 3%), the Defense Department (up 0.3% to $740.5 billion), NASA (up 12%) and the Department of Veterans Affairs (up 13%).
The Commerce Department would be cut 37%; officials said much of that reduction is due to the completion of the Census. The Department of Housing and Urban Development is slated for a cut of 15%, with the proposal including $2.8 billion for homelessness assistance grants.
The Centers for Disease Control would be cut 9%, with $4.3 billion targeted for battling infectious diseases.
Overall, non-defense spending would be cut 5%, to $590 billion, below the level agreed to by the White House and congressional Democrats in the current two-year budget deal.
Mr. Trump also proposes to make permanent the tax cuts of 2017.
Senior administration officials who gave a preview to The Washington Times and other select news outlets said the election-year proposal is aimed partly at the perception that Mr. Trump hasn’t tried to curtail federal spending, as annual deficits have risen to more than $1 trillion in his first term.
“We’re trying to make the case that the president cares about spending, and has cared about spending,” said a senior administration official. “He’s been doing this since his very first budget. This is now the fourth budget. Many of these [spending] reforms have been in each and every one of them. We do need Congress. Congress has not been there.”
The plan also provides a stark contrast with costly priorities proposed by leading Democratic presidential candidates, such as Medicare-for-all and free college tuition, that would likely require significant tax increases.
Read the rest of the story HERE and check out links to related stories below:

DAILY CALLER: By The Numbers: Trump’s New Budget Cuts EPA By 26%, Foreign Aid By 21%

WSJ: Trump to Propose $4.8 Trillion Budget With Big Safety-Net Cuts

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