U.S. President Donald Trump on Monday will propose a 21 percent cut in foreign aid and slashes to social safety net programs in his $4.8 trillion budget proposal for fiscal 2021, according to senior administration officials.
The budget would spend money to fund infrastructure projects and defense, but would also raise funds by targeting $2 trillion in savings from mandatory spending programs in the United States. It assumes revenues around $3.7 trillion.
Trump, a Republican, sought in his budget proposal last year to slash foreign aid but faced steep resistance from Congress and did not prevail.