9911796707
TMI BlogWhite House will unveil Trump's 2026 budget, his first since returning to powerX X X X Extracts X X X X X X X X Extracts X X X X ..... White House will unveil Trump's 2026 budget, his first since returning to power X X X X Extracts X X X X X X X X Extracts X X X X ..... . Budgets do not become law but serve as a touchstone for the upcoming fiscal year debates. Often considered a statement of values, this first budget since Trump's return to the White House carries the added weight of defining the Republican president's second-term pursuits, alongside his party in Congress. The White House's Office of Management and Budget, headed by Russell Vought, a chief ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... chitect of Project 2025, confirmed Friday's planned release. It is expected to be the so-called “skinny” version of topline numbers, with more details to come. “Details soon,” Vought said during a Cabinet meeting this week at the White House. The nation's estimated USD 7 trillion-plus federal budget has been growing steadily, with annual deficits fast approaching USD 2 trillion and the annual ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest on the debt almost USD 1 trillion. That's thanks mostly to the spike in emergency COVID-19 pandemic spending, changes in the tax code and climbing costs of Medicare, Medicaid and other programmes, largely to cover the nation's health needs as people age. The nation's debt load, at USD 36 trillion, is ballooning. This year's presidential budget request is expected to show deep reduct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions in spending, some reflective of the cuts already made by Trump's actions and adviser Elon Musk's Department of Government Efficiency, including the slashing of the government workforce. It also could point to potential new revenue streams, possibly from Trump's tariffs programme. Democrats are prepared to lambast Trump's budget as further evidence that the Republican administration is int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent on gutting government programmes that Americans depend on. It comes as Congress is already deep into the slog of drafting of Trump's big bill of tax breaks, spending cuts and bolstered funds for the administration's mass deportation effort — a package that, unlike the budget, would actually carry the force of law. House Speaker Mike Johnson, who spoke with Trump multiple times this week, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s racing to have the president's “big, beautiful bill” approved by the House by Memorial Day and sent on to the Senate. “We had a very productive and encouraging meeting at the White House this morning, and the remaining pieces of The One, Big Beautiful Bill!' are coming together very well," Johnson, R-La., said in a statement after Thursday's meeting with Trump and various committee chairmen. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... But there remain deep differences among the Republicans, who are trying to pass that big bill over the objections of Democrats. "We are awaiting some final calculations on a few of the tax components, and we expect to be able to complete that work on a very aggressive schedule,” Johnson said. Meantime, Cabinet officials are expected to start making the trek to Capitol Hill to testify about th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eir various requests in the president's budget. It's Congress, under its constitutional powers, that decides the spending plans, approves the bills that authorise federal programmes and funds them through the appropriations process. Often, that system breaks down, forcing lawmakers to pass stopgap spending bills to keep the government funded and avoid federal shutdowns. Vought is also expect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed on Capitol Hill in the weeks ahead as the Trump administration presses its case to Congress for funds. Among the more skilled conservative budget hands in Washington, Vought has charted a career toward this moment. He served during the first Trump administration in the same role and, for Project 2025, wrote an extensive chapter about the remaking of the federal government. Vought has separa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tely been preparing a USD 9 billion package that would gut current 2025 funding for the US Agency for International Development and the Corporation for Public Broadcasting, which involves Public Broadcasting Service and National Public Radio. Trump signed an executive order late Thursday that instructs the Corporation for Public Broadcasting and federal agencies to cease funding for PBS and NPR. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Vought has said that package of so-called budget rescissions would be a first of potentially more, as the Trump administration tests the appetite in Congress for lawmakers to go on record and vote to roll back the money. (AP) GRS GRS X X X X Extracts X X X X X X X X Extracts X X X X
|
