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Center on Budget and Policy Priorities — Trump Budget Gets Two-Thirds of Its Cuts From Programs for Low- and Moderate-Income People

Summary:
President Trump’s 2018 budget contains the largest dollar cuts to programs for low- and moderate-income people proposed by any President’s budget in the modern era, reflecting a strikingly imbalanced approach to reducing the deficit or offsetting the cost of its proposed tax cuts. The plan would cut these programs by an estimated .5 trillion over the next decade. About two-thirds (66 percent) of the budget’s cuts would come from these programs, which help low- and moderate-income families afford the basics or improve their upward mobility. Center on Budget and Policy PrioritiesTrump Budget Gets Two-Thirds of Its Cuts From Programs for Low- and Moderate-Income People Isaac Shapiro, Richard Kogan and Chloe Cho

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President Trump’s 2018 budget contains the largest dollar cuts to programs for low- and moderate-income people proposed by any President’s budget in the modern era, reflecting a strikingly imbalanced approach to reducing the deficit or offsetting the cost of its proposed tax cuts. The plan would cut these programs by an estimated $2.5 trillion over the next decade. About two-thirds (66 percent) of the budget’s cuts would come from these programs, which help low- and moderate-income families afford the basics or improve their upward mobility.
Center on Budget and Policy Priorities
Trump Budget Gets Two-Thirds of Its Cuts From Programs for Low- and Moderate-Income People
Isaac Shapiro, Richard Kogan and Chloe Cho
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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