First Trump Budget to Take Aim at Non-Retiree Social Safety Net

First Trump Budget to Take Aim at Non-Retiree Social Safety Net

Speaking on Fox News Channel's Sunday Morning Futures program, Mnuchin, who has acknowledged that tax reform is his top policy priority, said the budget plan would not seek cuts to federal benefits programs known as "entitlements".

Any move to drastically reduce agencies and programs could see the White House face a revolt from within the federal bureaucracy, before lawmakers have their own say. "We are very focused on other aspects and that's what's very important to us". The United States mainly taxes corporate income.

If Mnuchin's comments are correct, the president would be making good on his campaign promise to not make cuts to Social Security, Medicare, and Medicaid. "I am going to protect and save your Social Security and your Medicare", Trump declared two days before the November election in Sioux City, Iowa.

Mulvaney in fact once called Social Security a "Ponzi schemes" that requires overhauling. It should be noted that even though the big entitlement programs won't be touched, other programs could be cut which MAY include food stamps, student loans, etc.

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Rep. Mark Meadows (R-S.C.), a Trump ally and chairman of the conservative House Freedom Caucus, also said Trump would consider reforms that could limit payments for future Social Security and Medicare recipients without touching current benefits.

The non-partisan Congressional Budget Office has repeatedly warned that the government is on track to return to an era of massive, trillion-dollar-a-year deficits and historic levels of debt as a share of the national economy absent changes in the existing entitlement programs. The president is expected to preview aspects of the budget proposal in his Tuesday address to Congress.

But Mnuchin again said he was only studying a House Republican border tax adjustment plan that would levy a 20% tax on imports to encourage more US -based production and exports.