Daily Tax Report ®

Trump’s $4.7 Trillion Budget Headed for Rejection by Congress

March 11, 2019, 3:51 PM

President Donald Trump is seeking one of the largest-ever cuts to domestic discretionary spending in a $4.7 trillion fiscal 2020 budget proposal that also boosts defense spending and adds $8.6 billion for building a border wall.

The budget blueprint released March 11, which forecasts annual deficits extending beyond the next decade and rising national debt, represents a wish list for the president’s priorities that is certain to be dismissed by Congress. It also raises the threat of a showdown that could trigger another government shutdown in the fall.

The proposal calls for reducing regular non-defense discretionary spending from $597 billion...

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