Trump unveils $163 bn budget cut; prioritises defence, security funding

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Trump unveils $163 bn budget cut; prioritises defence, security funding - Business Standard

Quick Summary:

Republicans in Congress hope to enact the tax cut bill by July 4 and are working to bridge internal divisions over proposed cuts in federal spending to pay for it.

Donald Trump is pushing the Republican-controlled Congress to extend the 2017 tax cuts that were his major legislative achievement in his first term.

The annual White House budget request includes economic forecasts as well as detailed proposals about how much money should be spent by every government agency for the fiscal year that starts on October 1.