Published: Thu, February 15, 2018
Entertaiment | By Paul Elliott

Trump releases budget proposal for health department

Trump releases budget proposal for health department

A key White House official has acknowledged what independent economists have been saying for months: The $1.5 trillion GOP tax bill does not pay for itself. Last week's congressional budget deal freed up hundreds of millions in extra funding to clean up toxic sites and rebuild crumbling water systems.

The 11th-hour change reflects EPA Administrator Scott Pruitt's priorities to focus more on what he's described as "core mission" priorities such as Superfund and away from President Obama's push to combat climate change. This estimate could be far from what actually happens.

Overall federal debt will climb by $7 trillion during that period, and that is with economic assumptions considered absurdly optimistic by most economists-economic growth averaging 3 percent or more a year and interest rates on federal debt never exceeding 4 percent.

Revenue from the federal per-gallon taxes of 18.4 cents on gasoline and 24.4 cents on diesel has declined as the average fuel economy of a passenger vehicle increased. So, at least in the near term, will the $1.5 trillion tax cut package that passed in December.

Initial 2019 budget documents showed that the administration was preparing to unveil a bigger cut of 34% (down to $5.4 billion) until the budget agreement lawmakers hashed out Friday lifted spending restrictions and authorized more than $400 billion for Defense and other domestic spending.

President Donald Trump's proposal to hold a large-scale military parade in Washington, with marching soldiers and rows of tanks and armored vehicles, could cost as much as $30 million, according to Office of Management and Budget Director Mick Mulvaney.

A $600 million, or 6.1%, increase over 2017. Lawmakers also fear that only $200 billion in federal investment would be insufficient to spur the levels of infrastructure spending envisioned by the Administration.

Hidden within those numbers are billions of dollars in reduced spending for safety net programs. "In this context, higher deficit spending seems to be fiscally irresponsible".

Community Development Block Grant: Once again, Trump proposes eliminating a program that Buffalo uses for neighborhood improvements across the city. Under Trump's proposed new infrastructure incentives, the federal government would pick up 10% to 20% of a project's cost instead of the federal government's traditional 80% share. For the last 40 years, the program has allowed beneficiaries to use SNAP benefits at grocery stores as if they were cash. (The Messy Relationship Between Food Stamps and Health).

Congress has the final say.

As with any White House plan the Executive Branch proposes, and Congress disposes, it will be up to Congress to make the President's bold ideas a reality. Lawmakers from the Great Lakes states fought off a Trump proposal to eliminate the Great Lakes cleanup program past year. The initial ask from Congress by the Trump Administration is for $200 billion.

The major aim, Poole said, is to attract institutional investors to United States infrastructure.

Meantime, Rep. Tom Reed, a Corning Republican, fretted over the fact that even with all its proposed cuts, Trump's spending plan would increase the federal deficit over time.

South Africa's top court ruled that he violated the constitution following an investigation of multimillion-dollar upgrades to his private home that were paid by the state; a judicial commission is about to start a probe of alleged looting of state enterprises by some of his associates; and prosecutors are expected to announce soon whether they will reinstate corruption charges tied to an arms deal two decades ago. If enacted, the result would be that some roads and bridges which are free to motorists today will now be toll roads.

IFM Investors recently raised US$1.7bn for its global infrastructure fund. "There are probably a dozen balanced-budget amendment bills in Congress, and we can't even get a vote on a balanced-budget amendment". Several items in the budget call for an increase over current spending.

President Donald Trump is complaining about Canadian trade practices while threatening some as-yet-undefined global tax that has revived fears he might be contemplating new American import penalties.

Let's hope he can figure out a way to do that.

Like this: