Preliminary budget outlines are usually little-noticed administrative exercises, the first step in negotiations between the White House and federal agencies that usually shave the sharpest edges off the initial request.
But the Trump preliminary budget plan has gotten attention. It is a product of a collaboration between the Office of Management and Budget director, Mick Mulvaney; the National Economic Council director, Gary Cohn; and the White House chief strategist, Stephen K. Bannon.
Trump is demanding a budget with tens of billions of dollars in reductions to the Environmental Protection Agency and State Department, according to four senior administration officials with direct knowledge of the plan. Social safety net programs, aside from the big entitlement programs for retirees, would also be hit hard.
It will have sharp increases in Defense Department spending and drastic enough cuts to domestic agencies. It will leave Social Security and Medicare alone.
There is a 34 page analysis of Trump’s tax plan by the Tax Policy Center. The final details of any tax legislation will have to come out of revisions from the House and Senate.
Trump will make his first major policy address to Congress on Tuesday, which is expected to include some details of his infrastructure spending and tax plans.
* expectations are for fewer tax brackets, lower tax rates and simplified deductions
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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