Trump Presents Election-Year Budget Based on Lofty Growth Assumptions
With months left before U.S. elections, President Donald Trump unveiled a budget roadmap on Monday that abandons key deficit cutting promises based on lofty and unlikely economic growth assumptions.
The final spending plan of Trump’s first term in office faces near certain defeat in the Democrat-controlled House of Representatives, but offers a window into the administration’s priorities.
The budget makes cuts to social programs, environmental protections and foreign assistance, to fund higher defense spending and extend tax cuts for wealthy individuals and companies, according to officials and multiple U.S. media reports.
The proposal again abandons the stated goal of closing the budget deficit