Trump to Request $8 Billion in Border Wall Funding for 2020

funding

This year, the President ultimately hit a stalemate with Congress when seeking funding to build his long-promised border wall. The longest shutdown in history ended without any major change in border security funding. This forced President Trump to go around Congress and declare a national emergency. While this declaration may still be challenged in court, the White House is already planning its next budget request.

For the 2020 budget, it is reported that the President will seek over $8 billion for a border wall.

2020 Budget Could Create Tension on Capitol Hill

According to the White House Budget Office, President Trump will ask Congress for $8.6 billion for border wall funding in the 2020 budget. If passed through the House and Senate, this would more than double the amount that the President has already secured from both Congress and his emergency declaration.

The budget will not be based solely on hardline demands. It will offer compromises that might allow for better negotiations. The budget will reportedly request $750 billion for defense spending, an increase on the $686 billion that the Department of Defense received for the current fiscal year.

President Trump would seek a 5 percent cut in non-defense spending, which would more than offset the funds requested. Spending cuts would total $2.7 trillion, according to the White House.

Democrats Already Resisting the Funding Proposal

Funding for a wall along the U.S. – Mexico border was a major point of contention in the recent government shutdown. Democrats have already resisted the new budget proposal, with border wall funding becoming a sticking point again.

In a joint statement during the weekend, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer said that there was “widespread chaos when he [Trump] recklessly shut down the government to try to get his expensive and ineffective wall, which he promised would be paid for by Mexico. Congress refused to fund his wall and he was forced to admit defeat and reopen the government. The same thing will repeat itself if he tries this again.”

It is unsurprising that Democrats are already resisting the request for funding. However, we are still a long way from October’s deadline for a new budget, and there is plenty of time for negotiation. With the last shutdown being one of the most expensive in history, both parties have an obligation to agree on a spending plan that benefits the American people as well as partisan interests.

The Government is currently funded up until October 1, 2019.

 

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The reports, research and newsletter are based on current and historical market data, as well as publicly available financial data.They are intended to be a starting point for investors. They do not provide every material fact about a company or industry, nor are they recommendations to buy or sell. The writers and the company make no warranties or representations as to the accuracy of these reports.   You should NOT rely solely upon the information or opinions read in the content. Rather, you should use the content as a starting point for doing independent research on the independent analysis and trading methods in the content. The content is impersonal and does not provide individualized advice or recommendations for any specific reader or individual portfolio. By accessing this website you have agreed to our disclaimers and privacy policy.

 

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