Five things to know about Trump’s $4.4 trillion budget
President Donald Trump has sent Congress a proposal to spend $4.4 trillion in the 2019 budget year, which begins in October. Five things to know about his budget proposal: BUDGET DEAL IMPACT
Many presidential budgets are “dead on arrival” because Congress will end up rejecting the spending and tax proposals. But this budget was in the unusual position of being more irrelevant than usual because Congress last week passed a measure to boost the spending limits for defense and domestic programs. UNENDING DEFICITS
The administration’s new budget showed a dramatic increase in deficits over the 10-year budget window, mainly a reflection of the impact of the $1.5 trillion tax cut approved in December. While Trump’s first budget, issued last May, projected that it could wipe out the annual red ink by 2027, the new 10-year budget shows unending deficits. MEDICARE CHANGES
The budget calls for about $500 billion in cuts from projected Medicare spending over the next decade, primarily by trimming payments to hospitals and rehabilitation centers. INFRASTRUCTURE
The president wants to use $200 billion in federal money over the next decade to support $1.5 trillion in new spending to rebuild the nation’s crumbling infrastructure. With the plan heavily dependent on state and local dollars, Democrats warned it would raise tolls on commuters, sell off government-owned infrastructure to Wall Street and eliminate critical environmental protections. NASA PLANS
The budget proposes pulling NASA out of the International Space Station by 2025 with private businesses running the space station instead. The government would set aside $150 million to encourage commercial development.