This week, President Trump released his budget request covering fiscal year 2019.  The proposal, “An American Budget” calls for $4.4 trillion in federal spending in FY 2019, and while offset by $3.4 trillion in tax and other revenue sources, most estimates project the budget will tack on $1 trillion to the national debt. The budget adheres to the status quo, except for $44 billion for the proposed infrastructure initiative. A full analysis of the FY 2019 budget for federal construction accounts can be found here.
Traditionally, administration budget submissions have been largely perceived as messaging documents that outline the president’s priorities while priming the budget and appropriations process for the coming year.  This year, the administration’s budget is even less relevant, because last week Congress passed—and President Trump signed—a two-year budget agreement that set spending levels for fiscal years 2018 and 2019.  Despite this, the budget does include details on how the administration plans to annually spend the $200 billion identified for their infrastructure plan over the next 10 years. The budget, however, does not indicate how the government will fund the needed $200 billion.
For more information, contact Sean O’Neill at [email protected] or (202) 547-8892.