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Trump Reportedly Plans To Axe Non-Defense Discretionary Spending by US$163B; Military Budget Hikes 13% to Record US$1.01T
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The White House plans to release its FY2026 budget proposal on Friday (2nd), local time. The Wall Street Journal, citing U.S. government officials, reported that President Donald Trump is foreseen to propose massive cuts in spending on federal environmental, renewable energy, education, and foreign aid programs, reducing non-defense discretionary spending by over USD160 billion. The budget proposal sets non-defense discretionary spending at USD557 billion, a reduction of USD163 billion from prior levels, according to informed officials. The Trump administration stated that this represents a 22.6% cut compared to FY2025, which ended on September 30, though the calculation method for this percentage remains unclear. Separately, defense spending, according to Bloomberg report, will hike 13% YoY to a record USD1.01 trillion, funding priorities such as the Golden Dome missile defense system, shipbuilding, nuclear modernization, border security, and a 3.8% military pay raise. AAStocks Financial News |
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