WASHINGTON (Reuters) - U.S. President Donald Trump will propose on Monday a 21% cut in foreign aid and slashes to social safety-net programs in his $4.8 trillion (£3.7 trillion) budget proposal for fiscal 2021, according to senior administration officials.
The budget would spend money to fund infrastructure projects and defence, but would also raise funds by targeting $2 trillion in savings from mandatory spending programs in the United States. It assumes revenues around $3.7 trillion.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!