Wall Street Reacts to Trump's 2018 Budget Proposal

The White House hopes to sell its 2018 budget proposal as a 'taxpayer first' plan that makes deep cuts to a number of programs.
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The White House hopes to sell its 2018 budget proposal as a "taxpayer first" plan that makes deep cuts to a number of programs while raising spending on border security and defense.

The Trump administration will send the budget proposal to Congress on Tuesday, outlining its wish list for how the federal government will spend its money next year. The plan, titled "A New Foundation for American Greatness," will include $3.6 trillion in spending reductions by slashing funds for entitlements and discretionary programs while increasing allocations for items including law enforcement, defense and school choice. About $600 billion in cuts would be made to Medicaid over the next decade, while cuts to food stamps would amount to $193 billion over 10 years.

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This article was written by a staff member of TheStreet.