U.S. President Donald Trump will suggest on February 10 per month 21% reduction in overseas aid and slashing social safety net programmes within his $4.8 trillion budget proposal for financial 2021, according to senior government officials.
The funding will find an increase in capital to offset growing economic risks from China and Russia, but may also increase funds by targeting $2 trillion in savings from mandatory spending programmes from the USA.
Mr. Trump, a Republican, sought in his budget proposal last year to slash international help but confronted extreme opposition from Congress and failed to prevail.
Mr. Trump’s most up-to-date blueprint for government spending proposals is not likely to be passed from the Democratic-controlled House of Representatives, especially in an election season.
The funding will increase military spending by 0.3percent to $740.5 billion for its financial year 2021, beginning Oct. 1 and suggest greater outlays for veterans and defense, government officials said.
The White House proposes to slash spending $4.4 trillion within 10 years.
Including $130 billion in modifications to Medicare prescription-drug pricing, $292 billion in reductions in safety net programmes — such as labour requirements for Medicaid and food stamps — and $70 billion in tightening eligibility rules for federal disability benefits.
Mr. Trump’s foreign aid proposal expects $44.1 billion in the upcoming fiscal year in comparison with $55.7 billion enacted in financial year 2020, a government official said.
Assist to Ukraine would stay at its own 2020 levels under the new proposal, the official stated.
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