Trump’s budget, 2018 budget outline reveal some new tax cuts and spending increases
In its budget outline released Monday, the Trump administration outlined a series of tax cuts, including $1.4 trillion in tax cuts for corporations, $1 trillion for the wealthiest Americans and $1 billion for the government’s medical research and development budget.
“We are creating good-paying jobs and bringing back trillions of dollars of economic growth,” Trump said.
But while Trump is expected to propose spending increases for the military, the White House has yet to make any specifics on where those spending increases would come from.
Trump’s budget outline does include a $2 trillion tax cut for the wealthy.
In addition, the outline outlines $2.2 trillion in spending increases.
The White House did not immediately respond to a request for comment.