What to Watch For in Trump’s Budget
The Trump administration will release its full budget this upcoming Tuesday, May 23, and all indications are that it will expand on the cruel and irresponsible budget blueprint from March, breaking even more of the President’s promises to the American people.
Here’s what to watch for in Trump’s budget:
- Reckless cuts to non-defense programs that put our national and economic security at risk. Trump’s budget blueprint severely reduced services and programs vital to families across the country by cutting non-defense discretionary spending (NDD) by $54 billion from the already inadequate spending level caps. These drastic cuts would undermine our nation’s ability to boost jobs and innovation, invest in key drivers of economic growth such as education, infrastructure and job training, protect our environment and natural resources, defend against public health crises, and pursue diplomatic initiatives. Read the House Budget Committee Democratic staff’s full report on the debilitating consequences of Trump’s cuts.
- An Assault on Programs that Keep Families Out of Poverty and Betray Trump’s Promises. Despite Trump’s promises to protect programs that support our families and children, early reports indicate that the Administration will seek massive cuts to mandatory spending programs that Americans living paycheck to paycheck rely on—such as nutrition assistance (SNAP), Pell Grants, and even Medicaid—which Republicans already cut by more than $800 billion in their health care repeal bill. Read more in this committee report about the means-tested entitlement programs the Trump budget could target.
- Massive Tax Breaks for the Wealthy & Corporations. While it’s hard to call the Trump tax proposal a “plan,” the administration continues to advocate for massive tax breaks for millionaires and corporations, despite the fact that the tax code already favors those at the top. Such a tax giveaway in the budget would only impede economic growth and increase income inequality.
- Fake Economics, Gimmicks, and More. The Administration is already admitting that they will rely on unrealistic economic growth assumptions to make their budget math work. In particular, the administration continues to claim their tax plan will be paid for through economic growth, despite the fact that economists widely believe tax cuts drive up deficits. We expect even more gimmicks and faulty assumptions in the full document.
- Honorable Sounding Ideas That Mask Harmful Policies. Republicans have long sugar-coated their disastrous budget policy ideas with favored buzzwords that hide the true consequences of their policies on families and communities. The Trump budget will be no different. In order to break down the facade, the House Budget Committee Democratic staff compiled a GOP Budget Decoder to reveal the true meaning of these policies.
Some more disturbing previews of the Trump budget: