Latest news with #WhiteHouseOfficeofManagementandBudget
Qatar Tribune
03-05-2025
- Business
- Qatar Tribune
Trump proposes $163 bn cut to US budget that slashes domestic spending
Agencies WASHINGTON US President Donald Trump's administration on Friday proposed a $163 billion cut to the federal budget that would sharply reduce spending on education, housing and medical research next year, while increasing outlays for defense and border security. The administration said the proposed budget would raise homeland security spending by nearly 65 percent from 2025 enacted levels, as Trump cracks down on illegal immigration. Non-defense discretionary spending, which excludes the massive Social Security and Medicare programs and rising interest payments on the nation's debt, would be cut by 23 percent to the lowest level since 2017, the White House Office of Management and Budget said in a statement. The proposal would cleave more than $2 billion from the tax-collecting Internal Revenue Service and would slice the budgets of the National Institutes of Health and the Centers for Disease Control and Prevention by more than 40 percent. Trump's first budget since reclaiming office seeks to make good on his promises to boost spending on border security while slashing the federal bureaucracy. Congressional Democrats blasted the domestic spending cuts as too severe, and some Republicans called for boosting spending on defense and other areas. 'At this critical moment, we need a historic budget -- one that ends the funding of our decline, puts Americans first, and delivers unprecedented support to our military and homeland security,' OMB Director Russ Vought said in the statement. Vought, while at the Heritage Foundation, was an architect of Project 2025, a roadmap for scaling back the reach of the federal government. Trump disavowed that effort during the campaign but once in office, he made Vought his budget czar. The federal government has a growing $36 trillion debt pile, and some fiscal conservatives and budget experts worry Trump's proposal to extend his 2017 tax cuts will add to it. The so-called skinny budget is an outline of administration priorities that will give Republican appropriators in Congress a blueprint to begin crafting spending bills. Republican US Senator Susan Collins, the chamber's top appropriator, reacted coolly. 'This request has come to Congress late, and key details still remain outstanding. Based on my initial review, however, I have serious objections,' Collins, of Maine, said. She cited concerns that defense spending was too low and worried about cuts to programs to help low-income Americans heat their homes.
Hindustan Times
03-05-2025
- Business
- Hindustan Times
Donald Trump's budget: US defence boosted, education cuts proposed
US President Donald Trump on Friday proposed a $163 billion cut to the federal budget for the next fiscal year, reducing spending on education, housing, and medical research, and increasing allocations for defence and border security. Homeland security spending would rise by nearly 65 per cent from 2025 levels, as the administration targets illegal immigration. Separately, non-defence discretionary spending, which excludes social security, medicare, and interest payments, would be cut by 23 per cent, reaching its lowest level since 2017, according to the White House Office of Management and Budget. As his first budget since returning to office, Trump's plan aims to fulfil pledges to increase funding for border security while scaling back parts of the federal bureaucracy, Reuters reported. Meanwhile, Congressional Democrats pushed back against the domestic spending cuts, calling them excessive, while some Republicans urged increased funding for defence and other sectors. The proposal also includes a cut of over $2 billion to the Internal Revenue Service and reduces funding for the National Institutes of Health and the Centers for Disease Control and Prevention by more than 40 per cent. With agencies inputs
Straits Times
03-05-2025
- Business
- Straits Times
Trump proposes $211 billion cut to US budget that slashes domestic spending
Mr Trump's budget seeks to make good on his promises to boost spending on border security, while slashing the federal bureaucracy. PHOTO: AFP WASHINGTON - US President Donald Trump's administration on May 2 proposed a US$163 billion (S$211.65 billion) cut to the federal budget that would sharply reduce spending on education, housing and medical research in 2026, while increasing outlays for defence and border security. The administration said the proposed budget would raise homeland security spending by nearly 65 per cent from 2025 enacted levels, as Mr Trump cracks down on illegal immigration. Non-defence discretionary spending, which excludes the massive Social Security and Medicare programmes and rising interest payments on the nation's debt, would be cut by 23 per cent to the lowest level since 2017, the White House Office of Management and Budget said in a statement. The proposal would cleave more than US$2 billion from the tax-collecting Internal Revenue Service and would slice the budgets of the National Institutes of Health and the Centres for Disease Control and Prevention by more than 40 per cent. Mr Trump's first budget since reclaiming office seeks to make good on his promises to boost spending on border security while slashing the federal bureaucracy. Congressional Democrats blasted the domestic spending cuts as too severe, and some Republicans called for boosting spending on defence and other areas. 'At this critical moment, we need a historic budget – one that ends the funding of our decline, puts Americans first, and delivers unprecedented support to our military and homeland security,' OMB Director Russ Vought said in the statement. Mr Vought, while at the Heritage Foundation, was an architect of Project 2025, a roadmap for scaling back the reach of the federal government. Mr Trump disavowed that effort during the campaign, but once in office, he made Mr Vought his budget czar. The federal government has a growing US$36 trillion debt pile, and some fiscal conservatives and budget experts worry Mr Trump's proposal to extend his 2017 tax cuts will add to it. The so-called skinny budget is an outline of administration priorities that will give Republican appropriators in Congress a blueprint to begin crafting spending Bills. Republican US Senator Susan Collins, the chamber's top appropriator, reacted coolly. 'This request has come to Congress late, and key details still remain outstanding. Based on my initial review, however, I have serious objections,' Ms Collins, of Maine, said. She cited concerns that defence spending was too low and worried about cuts to programmes to help low-income Americans heat their homes. 'Ultimately, it is Congress that holds the power of the purse,' Ms Collins said. State, education hit The budget proposal calls for a US$50 billion cut at the State Department as it absorbs the US Agency for International Development (USAid). The proposal calls for a US$2.49 billion cut to the IRS, which one White House budget official said would end former President Joe Biden's 'weaponisation of IRS enforcement.' Non-partisan analysts say cuts to IRS can hurt tax collection and thus add to the deficit. OMB also called for sharp cuts at Nasa's moon programme and to federal law enforcement agencies including the FBI and Bureau of Alcohol, Tobacco, Firearms and Explosives, as Reuters reported was expected. The proposal furthers Mr Trump's promise to shutter or greatly diminish the Department of Education, slashing about 15 per cent of the department's budget. Funding for the Department of Housing and Urban Development, which oversees housing assistance programmes, would be cut almost in half. 'Donald Trump's days of pretending to be a populist are over,' said top US Senate Democrat Chuck Schumer of New York in a statement. 'His policies are nothing short of an all-out assault on hardworking Americans.' The administration says the budget would boost discretionary defence spending by 13 per cent, but Republican Senator Roger Wicker of Mississippi, chairman of the Senate Armed Services Committee, said defence spending would remain at levels set under Mr Trump's Democratic predecessor Joe Biden, which amounts to a cut due to inflation. Officials said the White House believes Republicans in Congress will add more defence spending as part of the process of passing Mr Trump's tax-cut Bill on a party-line vote, bypassing the Senate filibuster. 'We think the Hill will be with us on this as we get to talk to more of them along the way,' Mr Vought said in an interview with Fox Business. Outlays in fiscal 2024, which ended Oct 1, amounted to US$6.8 trillion, according to the Congressional Budget Office. Lawmakers often make substantial changes in the White House budget request, but Mr Trump commands unusual sway over Republican lawmakers and may get much of what he seeks. Republicans in Congress hope to enact the tax cut Bill by July 4 and are working to bridge internal divisions over proposed cuts in federal spending to pay for it. They may have to factor in growing stress in the US economy from Mr Trump's tariff hikes that are upending global trade. The White House budget calls for an additional US$500 million in discretionary spending to bolster border security and aid Mr Trump's push for mass deportations, as well as US$766 million to procure border security technology funding, and funding to maintain 22,000 border patrol agents and hire additional Customs and Border Protection officers. The administration is still working to put together a separate rescission package to codify cuts already made by the Department of Government Efficiency, a budget official said. Republican senators have been demanding this process - stipulated by law, because the administration is withholding funds previously approved by Congress. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
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Business Standard
02-05-2025
- Business
- Business Standard
Trump unveils $163 bn budget cut; prioritises defence, security funding
US President Donald Trump's administration on Friday proposed a $163 billion cut to federal spending next year, which would eliminate more than a fifth of the non-military spending excluding mandatory benefit programs. The proposed budget would raise defense spending by 13 per cent and homeland security spending by nearly 65 per cent from 2025 enacted levels. Non-defense discretionary spending would be cut by 23 per cent to the lowest level since 2017, the White House Office of Management and Budget said in a statement. The so-called skinny budget is an outline of administration priorities that will give Republican appropriators in Congress a blueprint to begin crafting spending bills. As Trump's first budget since reclaiming office, it sets out to make good on his promises to boost spending on the armed forces and border security, while slashing the federal bureaucracy. "At this critical moment, we need a historic budget one that ends the funding of our decline, puts Americans first, and delivers unprecedented support to our military and homeland security," OMB Director Russ Vought said in the statement. The federal government currently has a growing $36 trillion debt pile, and some fiscal conservatives and budget experts worry Trump's tax-cut bill will add to it without sufficient spending cuts. Trump is pushing the Republican-controlled Congress to extend the 2017 tax cuts that were his major legislative achievement in his first term, which nonpartisan forecasters say could add $5 trillion to the nation's debt. The annual White House budget request includes economic forecasts as well as detailed proposals about how much money should be spent by every government agency for the fiscal year that starts on October 1. Outlays in fiscal 2024 amounted to $6.8 trillion, according to the Congressional Budget Office. Lawmakers often make substantial changes in the White House's budget request. But Trump commands unusual sway over this Republican-controlled Congress and may get much of what he seeks. Republicans in Congress hope to enact the tax cut bill by July 4 and are working to bridge internal divisions over proposed cuts in federal spending to pay for it. They may have to factor in growing stress in the US economy from Trump's tariff hikes that are upending global trade. The budget proposal furthers Trump's promise to shutter or greatly diminish the US Department of Education, OMB said, while preserving funding for children from low-income families. The White House budget calls for an additional $500 million in discretionary spending to bolster border security and aid Trump's push for mass deportations, as well as $766 million to procure border security technology funding, and funding to maintain 22,000 Border Patrol Agents and hire additional Customs and Border Patrol officers.
Yahoo
02-05-2025
- Business
- Yahoo
Trump requests $893 billion for national defense, flat versus 2025
By Mike Stone WASHINGTON (Reuters) -U.S. President Donald Trump is asking Congress for a national defense budget of $892.6 billion for fiscal year 2026, flat compared to 2025 spending. The budget request, unveiled by the White House on Friday, prioritizes rebuilding the military, re-establishing deterrence, and promoting national security. The White House Office of Management and Budget "is not requesting a trillion-dollar budget. It is requesting a budget of $892.6 billion, which is a cut in real terms," Republican Senator Roger Wicker, chairman of the powerful Senate Armed Services Committee, said in a statement. "This budget would decrease President Trump's military options and his negotiating leverage." The proposed national security figure includes funding for the Department of Defense, as well as other agencies and programs that contribute to the country's security and defense. In addition to the budget request, congressional Republicans plan to introduce a $150-billion defense package as part of Trump's sweeping tax cuts bill, which will cut taxes by $5 trillion and add $5.7 trillion to the federal government's debt over the next decade. Funds associated with the massive reconciliation bill can begin to be spent once the bill passes, and will last into 2026. According to a statement from the White House, the Defense Department budget request "builds on the President's promise to achieve peace through strength by providing the resources to rebuild our military, re-establish deterrence, and revive the warrior ethos of our Armed Forces." The White House said the funding will be used to strengthen U.S. safety, security, and sovereignty, deter Chinese aggression in the Indo-Pacific, and revitalize the defense industrial base. The budget request will now be subject to review and debate in Congress, with lawmakers expected to weigh in on the proposed spending levels and priorities in the coming weeks and months.
