Trump Unveils 2026 Budget, Calls for $163 Billion Cut in Federal Spending

President Donald Trump asked Congress for deep cuts to domestic agencies and a boost to the military in a preliminary outline of his 2026 budget request.

- BLOOMBERG

The president's budget calls for $557 billion in non-defense spending next year, which represents a cut of $163 billion from current levels. National security funding would increase to $1.01 trillion, a 13 percent increase from the previous year.

Known as the skinny budget because of its lack of detail, the document is a new president's first opportunity to outline his vision for the size and scope of the federal government. But Trump's version was even thinner than usual, omitting baseline economic and interest-rate projections, which are typically a feature of budget proposals submitted by the White House in prior administrations.