WASHINGTON (Reuters) – The White House will send federal departments on Monday a budget proposal containing the increase in defense spending promised by President Donald Trump, funded in part by cuts to the US State Department. The Environmental Protection Agency and other non-defense programs, two officials said. with the proposal he said.
One of the officials said Trump’s request to the Pentagon included more money for shipbuilding, military aircraft and the establishment of “a stronger presence in key international waterways and choke points” such as the Strait of Hormuz and the Sea. of South China.
A second official said the State Department budget could be cut by as much as 30 percent, forcing a major restructuring of the department and the elimination of programs.
The officials requested anonymity because the draft budget had not yet been made public.
Trump, in a speech to conservative activists on Friday, promised “one of the largest military concentrations in the history of the United States.”
Some defense experts have questioned the need for a large increase in US military spending, which already stands at approximately $ 600 billion annually. By contrast, the United States spends about $ 50 billion annually on the State Department and on foreign aid.
The amounts Trump proposes to add to the Pentagon budget and cut elsewhere are not yet publicly known.
John Czwartacki, a spokesman for the White House Office of Management and Budget, said the budget plan would be released in mid-March.
“It would be premature for us to comment, or have anyone report, on the details of this internal discussion before publication,” he said in a statement.
The budget plans the White House is expected to send to departments and agencies on Monday are just one stage in a long process.
Agencies can request more funds and final spending plans must be approved by the United States Congress.
Trump’s budget assumes annual economic growth of 2.4 percent, the second official said. While campaigning for the presidency last year, Trump called for a “national goal” for economic growth of 4 percent.
Treasury Secretary Steven Mnuchin, speaking on Fox News early Sunday, said Trump’s budget would not seek cuts in federal social programs like Social Security and Medicare.
Disclaimer: Fusion Media wishes to remind you that the data contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so the prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not appropriate for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur as a result of the use of this data.
Fusion Media or anyone involved with Fusion Media will not accept any responsibility for loss or damage as a result of reliance on information, including data, quotes, charts, and buy / sell signals contained on this website. Be fully informed about the risks and costs associated with trading financial markets, it is one of the riskiest investment forms possible.