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What’s Good – and What Could Be Better – About the Fiscal 2020 Budget Proposal

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Unread 03.19.19, 06:55 AM
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What’s Good – and What Could Be Better – About the Fiscal 2020 Budget Proposal

03.19.19 05:35 AM

The White House released the president’s budget for fiscal year 2020 on Monday. This budget sets a vision for spending, taxes, and debt for the coming year and the next decade. It features a broad mix of spending priorities and proposes a net reduction in total government spending of $2.7 trillion over ten years from a mix of discretionary and mandatory spending reductions. This is a good step in the right direction but fails to adequately address our nation’s escalating spending and debt crisis. Members of Congress from both sides of the aisle should work together with the president to tackle out-of-control spending, tame the debt, and secure America’s economic future. Here is a breakdown of what you need to know about the proposal. What’s Good in the White House Budget Proposal In 2011, Congress passed the Budget Control Act, a modestly successful attempt to curb discretionary spending. However, time and time again, lawmakers have busted through the caps in a series of disappointing budget deals. The Trump administration’s budget prioritizes returning to the caps set by the BCA. The proposal also focuses on reducing spending projections over the next decade by, among other steps: Reducing total discretionary spending by […]

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