President Trump is set to unveil a blueprint for the federal budget on Monday.
The proposal is expected to consist of 5 percent cuts to a range of domestic and international programs. The Washington Post reports that foreign aid, environmental protection, and transportation are among the initiatives expected to face slashes. Trump has reportedly told aides that Medicare and Social Security cannot be cut because they are popular among older Americans.
Alternatively, the Associated Press reports that the plan is expected to prioritize increased spending in some areas, with an additional $750 billion slotted for border security and defense, including new funds for Space Force.
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The White House says the plan will lead to a balanced budget in 15 years. Trump's advisers believe that the revenue created from the administration's 2017 tax cuts will generate a 3 percent annual growth rate for the U.S. economy, which they argue — in addition to the cuts in Trump's budget proposal — will offset the federal deficit by 2035.
The budget has little chance of becoming law, however, due to bipartisan resistance to several aspects of the plan.
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