• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
FinanceFederal budget

President Trump Wants to Cut Foreign Aid and Boost Defense Spending

By
TIME
TIME
,
Zeke J Miller
Zeke J Miller
, and
Michelle Toh
Michelle Toh
Down Arrow Button Icon
By
TIME
TIME
,
Zeke J Miller
Zeke J Miller
, and
Michelle Toh
Michelle Toh
Down Arrow Button Icon
March 15, 2017, 10:53 PM ET

President Trump’s budget for 2018 will slash funding on everything from Big Bird to foreign aid, while boosting support for the Pentagon and the construction of a border wall, the White House said Wednesday.

Trump is releasing his first “budget blueprint” Thursday morning, providing the clearest glimpse yet at his Administration’s war on the so-called “administrative state.” The document reallocates more than $54 billion from government entities like the Environmental Protection Agency, the State Department and even NASA to boost defense spending by the same amount.

Trump’s budget is already facing stiff criticism on Capitol Hill, where his desire to target foreign aid and to defund some clean water programs is drawing opposition from even some Republicans. Presidential budgets are never adopted without significant change, and are often ignored altogether by congressional budgeters and appropriators. But they are still an important signpost in communicating a president’s priorities, both to the American people and lawmakers on Capitol Hill.

Trump, who invested little in formulating specific policy proposals during the presidential campaign, left his team scrambling after he won the election to prepare to implement on his campaign promises. OMB Director Mick Mulvaney told reporters that Trump’s speeches and even news coverage filled in the gaps.

“This is the America First budget,” Mulvaney said Wednesday, referencing a regular Trump campaign slogan that was borrowed from the pre-World War II protectionist isolationist movement. “In fact, we wrote it using the president’s own words. We went through his speeches, we went through the articles that have been written about his policies, we talked to him and we wanted to know what his policies were, and we turned those policies into numbers.”

Mulvaney repeatedly said he couldn’t provide specifics on the cuts to agencies because he didn’t have the numbers in front of him. The full blueprint will be released by the White House at 7 a.m. Thursday

It was not immediately clear what programs would benefit from the defense funding boost. Mulvaney told reporters that he had Secretary of Defense Jim Mattis’ assurance that the funding would be spent wisely, but did not elaborate.

“There is no question this is a hard power budget,” Mulvaney said. “It’s not a soft power budget.”

The investment in military hardware in Trump’s budget would come at an expense of foreign aid and democracy promotion programs that have been a hallmark of U.S. foreign policy for decades. It reflects Trump’s attempt to reshape how the nation engages allies and adversaries around the world, with a focus on military might over diplomatic and humanitarian gestures.

The defense sum does include $2.6 billion to be used for the construction of Trump’s wall along the southern border with Mexico. “It’s coming out of the treasury,” Mulvaney clarified, before reporters could even ask whether Mexico would pay for it, as Trump frequently promised. (The White House maintains that Mexico will ultimately pay for it, by a tax on remittances. a dedicated tax on imports or some other trade mechanism. The Mexican government has been outspoken in its opposition to any such plan.)

Mulvaney also preemptively addressed questions about the cost of the wall and how many miles could be paid for by the requested sum, pointing to the still-uncertain plans for its construction. “We haven’t settled on construction types,” he said. “We haven’t settled on where we’re going to start.”

The Trump Administration Thursday is also releasing its plans for the current fiscal year 2017, which runs through September 30, including a call for an additional $30 billion in funding for defense and the border, Mulvaney said.

Trump’s budget would defund the Corporation for Public Broadcasting, which funds PBS and NPR, and received $445m from taxpayers in fiscal year 2016. Mulvaney said the non-profit corporation would receive some federal funds under the budget, but only because some funding will be needed to unwind CPB.

“The policy is that we’re ending federal involvement with the Corporation of Public Broadcasting,” he said.

The budget “blueprint” only includes only includes top-line proposals for agency spending, with a fuller accounting expected when the complete budget is ready in May, Mulvaney said.

Trump’s Administration is working to dramatically roll back the regulatory state, as well as a host of grant programs that either don’t jibe with Trump’s policy positions or that the White House believes to be unnecessary. Trump has been outspoken in criticizing the Environmental Protection Agency, and his EPA administrator, Scott Pruitt, denied the scientific link between carbon dioxide emissions and global warming.

“You can expect reductions in the EPA that don’t line up with the president’s view on things like global warming and alternative energies,” Mulvaney said. “You will see a reduction in subsidies, a reduction of participation in those types of programs.”

In the case of the Department of Housing and Urban development, Mulvaney continued, “One of the other things the President said was he was going to go after wasteful programs, depleted programs, programs that simply don’t work, and a lot of those are in HUD.”

This article originally appeared on Time.com.

About the Authors
By TIME
See full bioRight Arrow Button Icon
By Zeke J Miller
See full bioRight Arrow Button Icon
By Michelle Toh
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Meryl Streep says she was ‘ready to retire’ when the call for ‘Devil Wears Prada 2’ came—so she demanded they double her salary or nothing
SuccessThe Promotion Playbook
Meryl Streep says she was ‘ready to retire’ when the call for ‘Devil Wears Prada 2’ came—so she demanded they double her salary or nothing
By Orianna Rosa RoyleJune 10, 2026
3 hours ago
Kevin Warsh (L) shakes hands with U.S. President Donald Trump after being sworn in as the new Chairman of the Federal Reserve in the East Room of the White House on May 22, 2026 in Washington, DC.
EconomyInflation
Inflation is back above 4% for the first time since 2023—but Kevin Warsh might catch a break
By Eva RoytburgJune 10, 2026
4 hours ago
swiss
EuropeImmigration
Switzerland to cast world’s first ever vote on whether to cap population
By Jamey Keaten and The Associated PressJune 10, 2026
4 hours ago
Top CD rates from major banks on June 10, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on June 10, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJune 10, 2026
4 hours ago
Current price of Ethereum for June 10, 2026
Personal FinanceEthereum
Current price of Ethereum for June 10, 2026
By Joseph HostetlerJune 10, 2026
4 hours ago
Current price of Bitcoin for June 10, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for June 10, 2026
By Joseph HostetlerJune 10, 2026
4 hours ago

Most Popular

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
2 days ago
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
Economy
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
1 day ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
2 days ago
Current price of oil as of June 9, 2026
Personal Finance
Current price of oil as of June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago
Current price of silver as of Tuesday, June 9, 2026
Personal Finance
Current price of silver as of Tuesday, June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
Investing
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
By Eva RoytburgJune 9, 2026
20 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.