Trump wants spending cuts and $8.6bn for his border wall

Trump plans to ask for another $8.6B to fund border wall: report

An additional $9 billion in the military budget is listed under "emergency requirements", which may provide funds to build the border wall that President Trump is showing no signs of dropping as a political football. Back in 2016, Mr. Trump suggested he would force Mexico pay for the border wall by threatening to cut off billions of dollars in money transfers that Mexicans who are living in the USA send home.

The Democratic chairman of the House Budget Committee, Rep. John Yarmuth of Kentucky, said Trump added almost $2 trillion to deficits with the GOP's "tax cuts for the wealthy and large corporations, and now it appears his budget asks the American people to pay the price".

On an unrelated note, Trump's budget would also cut Education Department funding by 10 percent even as it expands money for school choice programs, apprenticeship programs and school safety.

The Latest on President Donald Trump's budget proposal for the 2020 budget. That report projected muted economic gains in coming years, partly because of the fading impact of tax cuts and higher spending.

The White House and Congress must agree on funding by October 1 to keep the government funded and open - which coincides with the deadline to lift the debt limit, or risk a default, which would have severe economic repercussions.

One senior administration official said the $8.6 billion in additional funding, combined with the money Trump is attempting to redirect with his national emergency declaration, would allow the White House to complete at least 1,160km of barriers - a figure that has always been a White House goal.

Trump's call for deep cuts to Medicaid - whichinsures over 70 million low-income Americans - is in line with his administration's previous budgets and his efforts to kick millions off the program byapproving punitive work requirementsat the state level.

Congress has rejected these proposed cuts for the past two years when Republicans controlled both chambers. Trump predicts the economy will grow at a home-run pace with no recessions for the next decade, and he proposes massive cuts to education, health care and other non-defense parts of the budget that will not be enacted.

The budget proposal released Monday also puts to bed the question of whether Trump can keep his campaign promise to eliminate the national debt in eight years.

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"President Trump hurt millions of Americans and caused widespread chaos when he recklessly shut down the government to try to get his expensive and ineffective wall, which he promised would be paid for by Mexico", they said in a joint statement. The administration's budget is only a recommendation to Congress, and it has no responsibility to follow it.

The budget also assumes about $500 billion in savings over 10 years by addressing waste, fraud and abuse in health care and another $207 billion from changes to student loan programs.

The Republican president's $4.7 trillion budget is expected to be rejected by Congress, where Democratic leaders on Sunday warned Trump against what they called a "repeat performance" of last year's funding war, which led to a five-week partial shutdown of the federal government.

The budget arrives as the Senate readies to vote this week to terminate Trump's national emergency declaration.

Vought, speaking on CNBC, says the proposed budget will also have cuts in discretionary spending, such as foreign aid and in welfare "reforms".

Trump's budget also calls for the extension of the 2017 tax cuts, which are now expected to expire in 2025.

Trump will propose a big boost for the Pentagon, $8.6 billion in new funding for a border barrier, and what The Washington Post says are "major spending cuts across a range of domestic government programs".

Kudlow tells Fox News Sunday he's confident that economic growth will top 3 percent in 2019 and beyond. The Democratic-led House already did so, and a handful of Republican senators, uneasy over what they see as an overreach of executive power, are expected to join Senate Democrats in following suit.