Trump Administration proposes deep cuts to housing programs in latest budget plan

Trump Administration proposes deep cuts to housing programs in latest budget plan

President Donald Trump on Monday released his second budget plan, which is slated to boost spending on military, infrastructure and a wall along the Mexican border.

According to CNBC, "The proposal would sharply curtail income-based repayment plans, scratch the Public Service Loan Forgiveness Program, and embolden the government to go after students who don't pay their loans and cut funding for federal work study in half".

A short time earlier, the White House also revealed its long-awaited $1.5 trillion infrastructure plan, which will now be sent to Congress.

It will now be up to Congress to debate the infrastructure proposal.

Republicans in the U.S. House of Representatives, as they began to assemble a tax reform plan previous year, proposed imposing a 20 percent border-adjustment tax on imports that was created to offset the value-added tax refunds that some countries grant to their exporters.

The White House's position is largely in line with the congressional GOP, which has also tried to pass a budget that would cut $1 trillion from Medicare and nearly half a trillion from Medicaid.

But at a White House meeting Monday on infrastructure with state and local officials, Trump said he looked forward to spending more on the US - not overseas.


"From a policy standpoint, EEI believes it is important that infrastructure spending helps support development of smart communities", Edison Electric Institute (EEI) President Tom Kuhn said.

The Trump administration says, however, that Congress need not spend all of the money called for under the deal, particularly with regard to domestic spending.

"We can not continue to be taken advantage of" by other countries, Trump said, adding they come to the U.S. and "rob us blind". The White House would offset the new spending with unspecified cuts in other areas of the budget.

"It's almost a billion more than what we did just three or four years ago and that's a huge investment", Snyder said.

"We have spent US$7 trillion in the Middle East, US$7 trillion".

"And we're trying to build roads and bridges and fix bridges that are falling down and we have a hard time getting the money and its insane".

"Every federal dollar should be leveraged by partnering with state and local governments and, where appropriate, tapping into private sector investment to permanently fix the infrastructure deficit", he said in his State of the Union. The reviews can be costly and time-consuming, and streamlining might be desirable, but they also keep the government from wasting money on damaging or unsustainable projects.

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