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Financials

U.S. President Trump to propose $4.8 trillion budget with large cuts in safety-nets -WSJ

Feb 9 (Reuters) - U.S. President Donald Trump will release a $4.8 trillion budget on Monday that will propose steep cuts to social safety-net programs and foreign aid, the Wall Street Journal reported on.wsj.com/37hXtbj on Sunday.

The budget will raise military spending by 0.3% to $740.5 billion for the fiscal year 2021, starting Oct. 1, the Journal reported, citing a senior Trump administration official.

It will also propose higher outlays for defense and veterans, according to the report. (Reporting by Kanishka Singh in Bengaluru Editing by Nick Zieminski)

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