Trump asks Congress for unexpected federal funding cuts

By: bitcoin ethereum news|2025/05/02 18:45:01
0
Share
copy
President Donald Trump wants to cut federal government spending by a huge amount. He released a budget plan asking Congress to cut the nation’s overall spending on non-defense programs by more than $163 billion to $557 billion. The plan came out on Friday. It is putting pressure on Republican lawmakers to cut more than 20% from government funds. Congress isn’t used to making cuts anywhere near what Trump wants. This is making things more tense between the White House and congressional Republicans as GOP leaders try to fund the government before the Sept. 30 shutdown deadline. The budget demands For the fiscal year that starts in October, Trump’s budget calls for big cuts to important programs in foreign aid, energy, the environment, and education. It also calls for cutting hundreds of millions of dollars in funds and other projects that the White House calls “wasteful.” In some situations, the government wants to get rid of whole agencies. At the same time, Trump is asking Congress for big increases in spending for things like defense and border security, as well as safety on the roads and in the air and law enforcement work. The lower spending goal would have a big impact on both domestic programs and foreign aid. For example, the White House said that Environmental Protection Agency programs were not “environmental justice” and that millions of dollars in Department of Education grants for teacher support and preschool development were being cut. The administration said these grants promoted “critical race theory” and diversity, equity, and inclusion initiatives. The White House also wants to shut down USAID and the US Institute of Peace. They are two of the most well-known organizations that DOGE has been going after lately. The administration would cut millions of dollars from public health agencies like the National Institutes of Health and the Centers for Disease Control and Prevention at the Department of Health and Human Services and merge several smaller health offices. In addition, the plan would cut the Department of Housing and Urban Development’s extra money by more than 40%. The Department of the Interior and the Department of Labor would also see big cuts to their budgets—more than 30%. The government also laid out deep cuts they wanted to make to dozens of programs in a wide range of offices and agencies. These included programs at the State Department that are meant to promote US “soft power” abroad, programs at NASA that support science and the International Space Station, and a number of conservation efforts. “The administration wish list” could be rejected Congress usually rejects the White House’s budget ideas in favor of its own spending plan. Also, the top appropriator for the House has not promised to use Trump’s overall totals as the cap for the dozen funding bills that Republicans want to get through committee by August. “Look, we’re supportive of this administration what it’s trying to do,” House Appropriations Chair Tom Cole (R-Okla.) told reporters this week. “But with all due respect to anybody, I think the members have a better understanding of what can pass and what can’t than the Executive Branch does.” The budget is still important because it shows Trump’s political and spending priorities. It’s become even more important as the president tries to take away the power of the purse from politicians on Capitol Hill. “The president proposes, Congress disposes” used to be a saying on Capitol Hill, but this year it doesn’t seem to apply as much. Trump has been canceling and freezing hundreds of billions of dollars without Congress’ permission. This has led to lawsuits nationwide and 39 investigations into whether the Trump administration is breaking the law by “impounding” funds that Congress already approved. In this situation, the White House’s budget proposal is their biggest shot yet. Cryptopolitan Academy: Coming Soon – A New Way to Earn Passive Income with DeFi in 2025. Learn More Source: https://www.cryptopolitan.com/trump-asks-congress-for-federal-funding-cuts/

-- Price

--

You may also like

How to choose between buying discounted ETH, Bitmine, and SharpLink?

The answer may not lie in whose story is told better, but in specific dimensions such as cost of holding, financing ability, liquidity, and whether the narrative can be realized.

Semiconductor stocks plummet, yet Anthropic wants to create a 2nm chip

Abandoning TSMC and teaming up with Samsung. Anthropic launches a self-developed 2nm chip program, challenging Nvidia and starting a battle to break through computing power costs.

A South Korean company that learned the strategy of hoarding coins, from a bull market to delisting?

When the overall momentum of the Korean stock market is strong, this batch of cryptocurrency concept stocks, branded as the "Korean version of Strategy," finds itself at a crossroads of life and death.

Where is Zhao Changpeng's billion-dollar investment going? YZi Labs' investment landscape fully revealed

Zhao Changpeng's billion-dollar new "family office" YZi Labs investment landscape revealed: 70% of the funds are committed to the crypto ecosystem, while 30% are cross-industry bets on AI and biotechnology, launching a new capital experiment in the post-Binance era.

Ethereum Foundation Report: A Basic Guide to Ethereum for Governments and Financial Institutions

The Ethereum Foundation has released this non-technical introductory report aimed at government officials, central banks, regulators, and corporate decision-makers, explaining how Ethereum works, how it is governed, how it differs from other blockchains, and how institutions and governments are alre...

A pre-announced harvesting case: After the cryptocurrency price dropped by 99%, the public chain Saga exited to transform into AI

True failure often isn't a single price drop, but rather a pricing mechanism that repeatedly rewards those who tell stories while repeatedly punishing those who believe in the stories.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com