May 31, 2017

Trump Releases Budget

Trump Releases Budget
Document shows lack of detail for infrastructure plan
Last week, President Trump released his first budget request covering fiscal year 2018 that also looks out over the next 10 years (2018-2027). The proposal, “A New Foundation for American Greatness,” calls for $1 trillion in total tax cuts over the next 10 years, while also cutting federal spending by $4.6 trillion over that same time period. The budget assumes the economy will grow by $2.1 trillion, which would reduce 10-year deficits by $5.6 trillion and balance the budget in FY 2027.

As with most budgets submitted by respective administrations, President Trump’s is largely seen as a messaging document that primes the budget and appropriations debate for the coming year. This year however, the budget carries a bit more relevance due in large part to the president’s promise to include $200 billion for his infrastructure initiative. The budget did provide a fact sheet detailing four key principles for the White House’s initiative, but did not provide any details on a specific infrastructure plan.

A full analysis of the FY 2018 budget for federal construction accounts can be found here.