financetom
Business
financetom
/
Business
/
Market Chatter: Trump to Propose $163 Billion Cut in Nondefense Federal Spending
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Market Chatter: Trump to Propose $163 Billion Cut in Nondefense Federal Spending
May 26, 2025 12:12 AM

08:05 AM EDT, 05/02/2025 (MT Newswires) -- President Donald Trump is set to introduce his fiscal 2026 budget proposal Friday, which reduces nondefense funding by $163 billion, the Wall Street Journal reported Thursday, citing administration officials.

The plan would cut spending in areas such as environmental protection, renewable energy, education, and foreign aid, establishing nondefense budgets at $557 billion, a 22.6% reduction from fiscal 2025 projections, the WSJ reported.

Officials said the proposal reflects Trump's broader efforts to scale back federal programs, including eliminating diversity initiatives and rolling back clean-energy targets.

In contrast, the budget would boost allocations for border security, defense, transportation safety, veterans, and law enforcement, the news outlet reported.

Budget documents reviewed by the Journal showed deep cuts across agencies like the EPA, Energy, Interior, HUD, Education, NIH, and NOAA.

The White House did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved