2018 United States federal budget

2018 United States federal budget was a comprehensive financial plan outlining the United States federal government's revenues and expenditures for the fiscal year 2018, which began on October 1, 2017, and ended on September 30, 2018. The budget was prepared by the Office of Management and Budget (OMB) under the direction of Mick Mulvaney, the Director of the Office of Management and Budget, and was submitted to the United States Congress by President Donald Trump on May 23, 2017. The budget proposal was influenced by the Republican Party (United States)'s Tax Cuts and Jobs Act of 2017 and the Affordable Care Act repeal efforts led by Paul Ryan, the Speaker of the United States House of Representatives, and Mitch McConnell, the Majority Leader of the United States Senate.

Introduction

The 2018 United States federal budget was a significant financial plan that aimed to reduce the United States federal budget deficit and promote economic growth through tax cuts and reduced spending on certain United States federal government programs. The budget was shaped by the Trump administration's policy priorities, including the Mexico–United States border wall, United States Armed Forces modernization, and Medicare and Medicaid reform, as advocated by Tom Price, the United States Secretary of Health and Human Services, and Seema Verma, the Administrator of the Centers for Medicare and Medicaid Services. The budget also reflected the administration's commitment to reducing the size and scope of the United States federal government, as outlined in the Executive Order 13781 signed by President Donald Trump on March 13, 2017, and the Executive Order 13777 signed on February 24, 2017.

Budget Proposal

The budget proposal submitted by President Donald Trump on May 23, 2017, included significant cuts to various United States federal government programs, including Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF), and United States Department of State's foreign aid budget, as proposed by Rex Tillerson, the United States Secretary of State. The budget also proposed increases in spending on United States Department of Defense programs, including the F-35 Lightning II and United States Navy shipbuilding, as advocated by James Mattis, the United States Secretary of Defense, and General Joseph Dunford, the Chairman of the Joint Chiefs of Staff. The budget proposal was influenced by the House Budget Committee's Budget Resolution for fiscal year 2018, which was passed on October 5, 2017, and the Senate Budget Committee's Budget Resolution for fiscal year 2018, which was passed on October 19, 2017.

Appropriations

The appropriations process for the 2018 United States federal budget was complex and involved multiple United States Congressional committees, including the House Appropriations Committee and the Senate Appropriations Committee. The Continuing Appropriations Act, 2018 was passed on September 8, 2017, to fund United States federal government operations until December 8, 2017. The Further Continuing Appropriations Act, 2018 was passed on December 8, 2017, to fund United States federal government operations until January 19, 2018. The Bipartisan Budget Act of 2018 was passed on February 9, 2018, to fund United States federal government operations until March 23, 2018, and included significant increases in spending on United States Department of Defense and United States Department of Homeland Security programs, as advocated by John McCain, the Chairman of the Senate Armed Services Committee, and Mac Thornberry, the Chairman of the House Armed Services Committee.

Receipts and Expenditures

The receipts and expenditures of the 2018 United States federal budget were significant, with estimated revenues of $3.65 trillion and estimated outlays of $4.09 trillion. The budget deficit was estimated to be $440 billion, which was lower than the fiscal year 2017 deficit of $665 billion. The budget included significant spending on United States Department of Health and Human Services programs, including Medicare and Medicaid, as well as United States Department of Education programs, including Pell Grant and Federal student loan programs, as advocated by Betsy DeVos, the United States Secretary of Education. The budget also included significant spending on United States Department of Veterans Affairs programs, including Veterans' health care and Disability compensation, as advocated by David Shulkin, the United States Secretary of Veterans Affairs.

Impact and Analysis

The impact and analysis of the 2018 United States federal budget were significant, with various think tanks and research organizations, including the Brookings Institution, Center on Budget and Policy Priorities, and Heritage Foundation, analyzing the budget's effects on the United States economy and United States federal government programs. The budget was criticized by Democratic Party (United States) lawmakers, including Nancy Pelosi, the Minority Leader of the United States House of Representatives, and Chuck Schumer, the Minority Leader of the United States Senate, for its significant cuts to social programs and its potential impact on the United States national debt. The budget was also analyzed by the Congressional Budget Office (CBO), which estimated that the budget would increase the United States national debt by $10 trillion over the next decade, as reported by Keith Hall, the Director of the Congressional Budget Office.

Legislative History

The legislative history of the 2018 United States federal budget was complex, with multiple United States Congressional committees and subcommittees involved in the budget process. The budget was influenced by the Budget Control Act of 2011 and the American Taxpayer Relief Act of 2012, which established the budget sequestration process. The budget was also shaped by the 2017 United States federal budget and the Consolidated Appropriations Act, 2017, which was passed on May 5, 2017. The budget process involved significant negotiations between Republican Party (United States) and Democratic Party (United States) lawmakers, including Paul Ryan, Mitch McConnell, Nancy Pelosi, and Chuck Schumer, as well as President Donald Trump and his administration, including Mick Mulvaney and Gary Cohn, the Director of the National Economic Council. Category:United States federal budgets