WASHINGTON—President Donald Trumps fourth budget resolution will be released on Feb. 10, calling for substantial reductions to both discretionary and mandatory spending. The proposal includes deep budget cuts in foreign aid and environmental programs.
This years proposal titled “A Budget for Americas Future” includes $4.4 trillion in spending cuts over 10 years, according to a summary sheet provided to The Epoch Times.
The blueprint aims to reduce the deficit each year and achieve a balanced budget in 15 years.
“From day one, President Trump has taken deficits and spending very seriously—which is why the Trump Administration has proposed more spending cuts than any administration in history,” a senior administration official told The Epoch Times.
Nearly $2 trillion of savings will be to mandatory spending, which includes entitlement programs such as Social Security, Medicare, and Medicaid.
Another $2 trillion in savings will come from discretionary spending, and the rest will be interest savings, according to the plan.
Trump proposes to reduce foreign assistance by 21 percent, including cuts to United Nations programs. Eliminations of various programs and accounts are expected to save nearly $170 million compared to the 2020 enacted level.
The plan also proposes slashing the Environmental Protection Agencys (EPA) budget by 26 percent, by eliminating dozens of “wasteful programs.”
“We continue to think the environmental protection agency is bloated,” the official said.
The plan also proposes to increase defense spending by 0.5 percent after 2021.
The administration plans to request $2 billion in new funding from the Pentagon for the construction of a wall on the southern border, according to the official. This is significantly lower than the money requested in previous years.
“Most critical features of the wall are being fully resourced as of right now,” said the official, adding that 80 percent of the wall that will be built is approaching being fully resourced.
In February last year, Trump declared the border situation a national emergency, which allowed him to redirect $6.7 billion from the Pentagon toward wall construction last year. The administration plans to shift an additional $7.2 billion this year.
Work Requirement Expansion
The president also proposes significant mandatory savings and reforms but protects Social Security and Medicare beneficiaries, the official said.
The proposal includes nearly $130 billion in savings over 10 years from lower drug costs within the Medicare program.
Another $300 billion savings is planned through implementing a 20 hours per week work requirement for the housing program and Medicaid and expanding it within the food stamp program.
The Trump administration tightened work requirements for the food stamp program last year. This change alone has created $13 billion in savings over 10 years, according to the official.
Other proposals include student loan reform and site-neutral payments, the concept of paying the same amount for a service regardless of whether the patient is treated at an outpatient hospital or a physicians office.
In light of the coronavirus outbreak in China, the budget prioritizes $4.3 billion in funding for fighting infectious diseases under the Centers for Disease Control and Prevention (CDC) budget.
The budget also proposes maintaining security assistance to Ukraine at current enacted leRead More – Source
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The Epoch Times
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