Presidential budget proposals are often dismissed by Congress, but they illustrate the White House’s key priorities and assumptions about what those policies would do. Here’s a look at five key numbers from President Donald Trump’s 2019 budget proposal.
-$2.7 trillion Over 10 Years
For the decade ending 2027, the Trump administration sees revenues falling lower by around 6%, or $2.7 trillion, compared with last year’s projections. Revenue in 2019, at 16.3% of GDP, would fall to levels traditionally seen only after recessions.
Last year, budget analysts and economists cried foul when the Trump administration appeared to double-count certain revenues. Officials projected economic growth would generate an extra $2.1 trillion in revenues over a decade, but they appeared to count this money both to pay for deficit reduction and to offset the cost of tax cuts.
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