The budget will seek an increase in funds to counter developing economic threats from China and Russia, but will also raise funds by targeting $2 trillion (1.55 trillion pounds) in savings from mandatory spending programs in the United States. (U.S. President Donald Trump speaks to reporters as he departs for travel to North Carolina from Washington, U.S. February 7, 2020. - Reuters file pic)
WASHINGTON: U.S. President Donald Trump will propose on Monday a 21% cut in foreign aid and slashing social safety net programs in his $4.8 trillion budget proposal for fiscal 2021, according to senior administration officials.
The budget will seek an increase in funds to counter developing economic threats from China and Russia, but will also raise funds by targeting $2 trillion (1.55 trillion pounds) in savings from mandatory spending programs in the United States.
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