Trump to Seek $8.6 Billion for Wall, Set Up New Budget Fight

Trump to Seek $8.6 Billion for Wall, Set Up New Budget Fight

It requests $750 billion for national defense, or $34 billion above the funds enacted for FY19, while it cuts the nondefense side to $563 billion, a 9 percent drop from FY19. It will require a five percent budget cut on all domestic spending through multiple federal government agencies.

"President Trump has somehow managed to produce a budget request even more untethered from reality than his past two", said Democratic Representative Nita Lowey, chairwoman of the House Appropriations Committee.

White House economic advisor Larry Kudlow said Sunday "there's no reason to obsess" about the budget deficit, as long as it remains below 5 percent of the overall economy.

The budget proposal will be released on Monday, March 11, 2019. While the administration will tout the formality as a big deal full of big cuts, the president's request will largely go ignored by Congress when they get to moving on the real federal funding action.

The fiscal stimulus package Trump used to help juice the economy in 2018 included large tax cuts for corporations that will add $1.9 trillion to the deficit in the decade through 2028, according to the Congressional Budget Office.

As the Washington Post's Jeff Stein and Amy Goldstein reported, Trump's budget proposal calls for coverting Medicaid into a block-grant system and handing states the power to set coverage rules-a move that would endanger the healthcare of millions of low-income Americans. Many Democratic leaders have said they will oppose the sweep of the White House's proposed budget cuts, though White House officials have signalled they plan to fight over the budget much harder this year, believing it provides a sharp contrast between Democrats and Republicans heading into the final year of Trump's first term. The plan would aim balance the budget by 2034, the official said. "We hope he learned his lesson", Mrs. Pelosi and Mr. Schumer said in a joint statement.

"With severe cuts to essential programs and services that would leave our nation less safe and secure, the Trump budget is as unsafe as it is predictable".

But Kudlow said he was not anxious by some predictions the American economy will only advance a little more than 2 percent this year. The president has resisted big, bipartisan budget deals that break the caps - threatening to veto one past year - but Congress will need to find agreement on spending levels to avoid another federal shutdown in the fall.

'As you know this is an area where we're exhausted of being right, ' said acting Office of Management and Budget director Russ Vought on CNBC on Monday morning.

"This is a budget for the military industrial complex, for corporate CEOs, for Wall Street, and for the billionaire class", Sanders said.

Veterans' healthcare receives $80 billion, and $4.8 billion is allocated to fight America's ongoing opioid epidemic.

"At a time when our country faces challenges about jobs for the future, this money would better be spent on rebuilding America, and on education and workforce development for jobs for the 21st Century", the statement continued. The budget also proposes policy changes to end sanctuary cities, the administration said.

The national emergency declaration unsettled many lawmakers, including some of his key allies in the Senate.

It asks for $8.6 billion to build a wall on the border with Mexico.

The proposed wall funding comes after Trump on February 15 declared a "national emergency" at the border - an edict the White House says allows it to tap a total of $8.1 billion, including $1.38 billion Congress OK'd for border fencing, for a wall Congress explicitly denied him. Watch as Roll Call explains the budget.

Tax cuts have been a priority for the Republican White House and Congress in the past two years, rather than deficit reduction.

Economists say that forecasting such trends 10 years out - much less beyond that - is hard.

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