On Monday, President Donald Trump’s second budget was released. The proposal seeks to boost military spending and requests funds for infrastructure, construction of a wall bordering Mexico as well as opioid treatment programs to battle the nation’s epidemic.
The $4.4 trillion budget plan is predicted to encourage disapproval from conservatives who have concerns that Republicans are supporting increased deficit spending. The proposal for fiscal year 2019 contains $200 billion for infrastructure spending and more than $23 billion for immigration enforcement as well as border security. The proposal also makes $716 billion available for spending on military programs and for sustaining the United States’ nuclear arsenal.
In an effort to prove to conservatives that the administration can demonstrate control over fiscal obedience, the proposal suggests reductions in non-military spending that could lower the federal deficit by $3 trillion over a period of ten years.
Most of the time, Presidential budgets are overlooked by the U.S. Congress, which is in control of federal spending.
Trump’s budget proposal made its way to Congress just a few days after he had signed a bipartisan spending agreement by lawmakers that will increase domestic spending by $300 billion over a two-year period. This included $165 billion in new defense spending as well as $131 billion in non-military domestic spending.
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Trump’s budget proposal also incorporates several economic forecasts and is anticipated to bank on the idea that the U.S. economy will continue to grow at a brisk pace for the time being. The economy’s rapid growth is a key element that is required to aid in offsetting the $1.5 trillion tax-reform bill that Congress had passed in December.
The budget proposal contains a few main components, one being $18 billion over a two-year period for construction of a border wall along Mexico. Second, $200 billion in federal funding to stimulate $1.5 trillion infrastructure investments over a decade with state, local and private partners. Lastly, $13 billion in new federal funding over the next two years to aid in the battle of the nation’s opioid epidemic.