Specifically, the budget would authorize $100 million for expenses, down from $110 million authorized in FY 2020. Requests a decrease of nearly $10 million in funding for the Export-Import Bank.Requests $99.2 million for the International Trade Commission, a slight increase from the $99.4 million enacted in FY 2020.Requests $7.8 billion for the Department of Commerce, a $7.3 billion or 48% decrease from the FY 2020 enacted level, including changes in mandatory programs.This includes $43 billion in reductions to farm programs over the next 10 years such as a $9.1 billion reduction to conservation assistance, including the Conservation Stewardship Program, as well as disaster assistance for livestock producers, which would be eliminated, saving $5 billion. Proposes $240 billion in net mandatory savings over 10 years from USDA programs to reduce long-term deficits, totaling $50 billion in reductions by 2030.Department of Agriculture (USDA), an 8% decrease from the FY 2020 enacted level. NCSL will track, monitor, and advocate on behalf of states interests as the appropriations season progresses. The budget would increase deficit spending to almost $1 trillion in 2021.Īn analysis of key items of interest in the proposal follows. economy will grow 3% in the coming years, more than 1% higher than most analysts have predicted.įinally, the proposal also assumes Congress will extend tax cuts enacted in the 2017 tax reform law, which are currently set to expire in 2025. The proposal would ignore the spending cap level enacted last summer in the Bipartisan Budget Agreement and assumes the U.S. Veterans Affairs would receive the largest increase, with the National Aeronautics and Space Administration, Homeland Security and Treasury departments following suit.Ĭonsidered an aspirational budget that officially launches the FY 2021 appropriations process, the budget also includes $2 billion to fund a southern border wall, and $1 trillion in infrastructure funding. The agencies experiencing largest reductions include the Department of Commerce, Environmental Protection Agency, and the State Department. President Donald Trump officially released his $4.8 trillion budget request for FY 2021 last week, calling for a 5% or $590 billion reduction in domestic discretionary spending while investing heavily in defense spending at a level of $636.4 billion, to include the creation of the U.S.
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