post-image

Trump’s budget: a $1.6 trillion cut to education

Newest

By CNBC staffThe budget Trump proposed Tuesday will reduce federal funding for public schools by $1,600,000 and would slash the budget for higher education by $3,000.

It is the largest single cut to federal education funding in the nation’s history.

The budget was unveiled in a briefing with reporters at the White House.

It also cuts funding for federal programs that help struggling communities like inner cities, according to a White House statement.

The White House said the budget includes $1 trillion for the construction of roads, bridges, airports, water and wastewater systems and a $3 trillion infrastructure program to repair and rebuild America’s crumbling infrastructure.

The new budget proposes $2.5 trillion for “expanding and modernizing the nation, including infrastructure, energy and manufacturing, as well as investments in innovation and advanced research and development,” according to the White, White House and Congressional Budget Office (CBO) press releases.

The budget calls for $1 billion in infrastructure spending over five years, while $1 million would be dedicated to the “promotion of science and technology.”

The budget also proposes $6 billion in the budget to “help the nation achieve its national security and national economic objectives,” and $1 for every $1 invested in the National Science Foundation.

It calls for spending of $2 trillion over five decades on a $50 trillion national debt, $200 billion over five more years to create jobs, and $2 for every dollar invested in higher education, the White and Congressional budget office said.

The Republican-led House and Senate have passed their version of the budget.

President Donald Trump has not released the final version.

Tags:
, , ,