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Trump Administration Proposes $4.4 Trillion Budget for Fiscal 2019

Latest News : Trump Administration Proposes $4.4 Trillion Budget for Fiscal 2019

President Donald Trump proposed a $4.4 trillion budget that would boost federal spending for the military, infrastructure, border security and programs to combat the opioid epidemic in the 2019 fiscal year.

The plan would widen the federal budget deficit to $984 billion in the next fiscal year, which begins Sept. 30. One big difference from last year's budget proposal is that Mr. Trump has given up for now on balancing the budget over the next decade, following enactment of a major tax cut and two-year budget deal that analysts estimate will push the deficit beyond $1 trillion next year.

The proposal will likely have limited influence on Capitol Hill, where lawmakers last week passed a bipartisan agreement that set overall funding levels for the next two years and boosted spending for defense and domestic programs by $300 billion.

Impact : Medium 
Sentiment : Bad for Dollar

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