President Donald Trump will suggest an increase in military expenditure as well as protect Social Security and Medicare as he gets ready to make his first budget proposal for the next fiscal year.
According to a White House official, the President will issue the federal agencies with the budget outlines. This is a document that the Office of Management and Budget Director Mick Mulvaney has extensively drafted, reports CNN.
This budget proposal will seek to reduce the spending of most federal agencies such as the Environmental Protection Agency.
As Trump gears up for the joint congressional address on Tuesday, this proposal is set to be announced before the said date. There are expectations that he will lay bear his legislative priorities during the address.
Governors from all over the country will also meet with President Trump on Monday where they will also be briefed on the budget outline.
This budget has been designed in such a way that it facilitates Trump’s campaign promises.
Neither is it a surprise that the proposed cuts to agencies such as the EPA has been made. Mr. Trump has always termed most regulatory agencies to be burdensome to the economy and slashing some of these regulations will go a long way in helping US businesses to boom.
His decision to appoint former Oklahoma Attorney General Scott Pruitt to head EPA may be rather questionable considering Mr. Pruitt is a climate change skeptic.
10 Percent increase military expenditure
The White House official reported that the President will propose a 10 percent spike in military expenditure. Other priorities such as foreign aid will be significantly reduced.
This is the first time the new administration has expressed its expenditure priorities. However, this is not a final and the President will engage in an almost two-month negotiation with the Congress for the final budget.
Early Monday morning, Trump issued a statement from the White House, stating that his budget places “America first”. One of the ways of doing so is to focus on the veterans, law enforcement and defense. The money invested here will be cash that had in the past been sent abroad.
“We are going to do more with less and make the government lean and accountable to the people,” Trump said. “We can do so much more with the money we spend.”
But the proposal has its own glitches as it fails to explain how White House will deal with mandatory spending or taxes. Some of the areas that take most of the government revenue include Social Security and Medicare – areas that Trump’s administration promises not touch.
A number of federal agencies will have to contend with the expected substantial reduction in their budget.
Tough Road through the Congress
Judging by the past happenings, the Congress has never fully agreed to a White House budget proposal, even if the president and congressional leaders hail from the same party. The Republican leaders are yet to announce their budget blueprint for the next fiscal year that begins on 1st October.
While speaking at a GOP in January, House Speaker Paul D. Ryan said that he expect the 2018 budget to be on the right path by July. He expects to kick-start the process of rewriting the tax code early enough.