President Donald Trump’s budget proposal would boost the federal government’s stimulus spending to nearly $3 trillion, according to the White House.
The administration announced the figure Wednesday, as it tries to drum up support for a $1 trillion spending bill.
The budget proposal also would give the Treasury Department $1 billion for its “Trump Tax Relief Initiative” initiative.
“The president’s budget reflects the best of American ingenuity, bold leadership, and a determination to help those in need,” White House budget director Mick Mulvaney said in a statement.
“While the president’s economic agenda is not perfect, it is an economic plan that will create jobs, spur economic growth, and bring more Americans back to work.
The President is committed to supporting those who work hard to create jobs and create prosperity for the American people.”
Trump is planning to propose a $5 trillion tax cut, a $3 billion boost to the infrastructure bank and other investments, and another $1 to $3 in federal spending on job training and job retraining.
The president is also expected to propose $1 million to $2 million in infrastructure grants, as well as a $2 billion boost in tax credits for homebuilders and a $500 million boost to veterans’ unemployment benefits.
“President Trump has consistently said that his first priority is the American workers who have lost their jobs to trade deals and other policies that have made it more expensive to make and sell our goods,” Mulvane said in the statement.
He also said the budget proposal includes an additional $400 billion for rebuilding the nation’s roads, bridges and tunnels.
“This includes rebuilding our infrastructure, and improving our schools and hospitals, and creating jobs, rebuilding our nation’s infrastructure, which has become a national security and economic security issue,” Mulvisaid.