President Donald Trump in his 2020 budget on Monday called for overhauling social programs that help poor and elderly Americans, while boosting military spending and funding a U.S. -Mexico border wall, in the opening gambits in his next funding fight with the U.S. Congress. The administration is counting on robust growth, including from the Republican tax cuts - which Trump wants to make permanent - to push down the red ink.
Trump's budget asked for $8.6 billion to build a wall on the southern border with Mexico, more than six times what Congress gave him for border projects in each of the past two fiscal years, and 6 percent more than he has corralled by invoking emergency powers this year after he failed to get the money he wanted. They include boosting defense spending and adding resources to the border, while cutting nondefense by $2.7 trillion. The State Department will see its spending cut by 23 percent, the Environmental Protection Agency will suffer a 31 percent chop, and food stamps will be cut by $17 billion and other welfare programs by $22 billion.
Kudlow said daily negotiations between US and Chinese officials have been progressing following face-to-face talks in Washington roughly two weeks ago, after which Trump extended a March 1 deadline for increasing USA tariffs on $200 billion in Chinese goods. A failure to reach agreement could result in a stand-off like the one that caused a record 35-day partial... There's a 10 percent increase in spending on veterans and money to fight the opioid drug crisis.
If approved, the money would be in addition to the $8 billion he has already secured, in part, by declaring a national emergency on the border. That 15-year timeline breaks with Republican orthodoxy, as GOP lawmakers have pushed to eliminate the federal deficit within 10 years.
The Trump administration is interested in extending the New Strategic Arms Reduction Treaty (START) beyond 2020, Undersecretary of State Andrea Thompson said at the 2019 Carnegie International Nuclear Policy Conference on Monday.
The people describing the request spoke on the condition of anonymity because the budget had not been made public yet, but a top White House official acknowledged the request in an interview on Fox News Sunday.
The White House's fiscal year 2020 budget proposes a five percent increase in defense, taking military spending up to $750 billion, up from $716 in the current fiscal year.
"President Trump's budget once again lays out an irresponsible and cynical vision for our country, without any regard for its human cost", Kentucky Democrat John Yarmuth, chairman of the House Budget Committee, said in a statement.
White House Economic Adviser Larry Kudlow touts major progress in the ongoing trade talks with China.
President Donald Trump will this week request at least another US$8.6 billion in funding to build more sections of a wall along the Mexico border, setting up a fresh battle with Congress less than one month after Trump declared a national emergency. "The same thing will repeat itself if he tries this again", the leaders continued. Other economic experts disagree that growth will be that high, with many predicting slow growth.
The budget arrived as the Senate readies to vote this week to terminate Trump's national emergency declaration. Yet despite his party controlling both houses of Congress, the president signed a budget that spring ignoring every facet of his proposal. If it passes, Trump is expected to veto the measure, and send it back to Congress where it does not appear to have sufficient backing to override a veto. He also said Mexico would pay for it, though the Mexican government has repeatedly refused to finance the project.