Trump administration sending Congress $4.1 trillion budget

25 May, 2017, 02:04 | Author: Andrea Terry

Rep Hal Rogers (R-KY) called much of the Trump budget "draconian, careless and counterproductive", and predicted the foreign aid cuts "will not stand", according to CNN.

Mick Mulvaney, Trump's budget office director, said the plan is the first one in a long time to pay attention to taxpayers.

The proposal projects that this year's deficit will rise to $603 billion, up from the actual deficit of $585 billion last year. However, that goal depends on growth projections that many private economists view as overly optimistic.

Specifically, Trump's budget presumes the American economy will expand at a 2.3 percent annual clip in 2017 and gradually improve to three percent annual growth by 2020.

But Trump's budget doesn't stop at cutting families' grocery budgets. John McCain in a statement called the budget "dead on arrival", while others rushed to remind people that a president's budget is only a proposal and that Congress still holds the final say in how the government spends its money.

Crop insurance cuts were concerning to Sen.

-The Disabled: Trump's budget calls for cutting Social Security disability benefits by almost $70 billion over the next decade by encouraging and, in some cases, requiring people receiving the benefits to re-enter the workforce.

The National Economic Council already approved the GDP growth target at 6 percent for the financial year 2017/18 while the government achieved a GDP growth rate of 5.3 percent in the outgoing fiscal year.

The former tea party congressman told the Budget Committee that he went line by line through the federal budget and asked, "Can we justify this to the folks who are actually paying for it?"

-The Poor: Trump's budget would slash Medicaid and the Children's Health Insurance Program by $616 billion over the next decade.

The budget does feature a handful of domestic initiatives, including a six-week paid parental leave program championed by Trump's daughter, Ivanka. Some $200 billion in federal infrastructure investments are promised to leverage another $800 billion in private investment, though the idea has yet to get much traction.

Mr Mulvaney's appearance was one of four planned for Wednesday as Trump Cabinet officials fanned out on Capitol Hill to defend the president's budget, which contains jarring, politically unrealistic cuts to the social safety net and a broad swath of domestic programmes.

McCain called the budget "illegal" because it exceeds spending caps set up in the Budget Control Act of 2011, which led to across-the-board spending cuts to most federal agencies and programs. Those cuts go on top of the repeal of Obamacare's expansion of the program to 14 million people and amount to, by decade's end, an nearly 25 percent cut from present projections.

The administration's proposed $4.1 trillion budget cuts food stamps by 25 percent, which would boot some 10 million people off the Supplemental Nutrition Assistance Program (SNAP).

According to U.S. Department of Agriculture figures, bedrock Republican states that Trump won have long food-stamp rolls: 3.8 million people in Texas, 682,077 in Vice President Mike Pence's home state of in, 815,000 in Alabama and 1.6 million in Georgia, for example.

The budget would reduce pension benefits for federal workers by $63 billion by eliminating cost-of-living adjustments for most and by requiring employees to make larger contributions. Under the program, the United States purchases agricultural commodities from American farmers and donates them to support food needs overseas.

On taxes, Trump promises an overhaul that would cut tax rates but rely on erasing tax breaks and economic growth to avoid adding to the deficit.

Pingree says the depth of cuts to a wide range of important programs to ME and the rest of the country means there will be a serious fight, particularly because Trump wants to use the money to provide tax cuts and build a border wall.

President Donald Trump sent Congress his recommended budget for the coming fiscal year.


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