May 2, 2025 - Business
The biggest winners and losers in Trump's budget
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Defense spending, border security and health care for veterans are the biggest winners in President Trump's budget proposal — while programs to support housing, health and climate stand to take massive cuts.
The big picture: The White House framework released Friday aligns with Trump's long-standing plans to spend more on defense and security, while slashing social programs and those seen as aligned with liberal priorities.
- The fiscal blueprint cuts discretionary non-defense spending by $163 billion — a 22.6% cut.
💰 What's in:
- Department of Defense: $113 billion in topline spending, including specific priorities like the F-47 fighter, a "Golden Dome for America" missile defense shield, and expanded shipbuilding capacity.
- Homeland Security: A $43.8 billion topline includes funding for Trump's proposed "mass removal" of undocumented immigrants, plus southern border wall construction, as well as preparations for the 2026 World Cup and 2028 Olympics.
- Veterans: The budget includes $3.3 billion in new funding for Veterans Affairs to expand medical care, including efforts to reduce homelessness among veterans.
🫙 What's out:
- Housing grants: The budget cuts $26.7 billion in state rental assistance block grants, part of what the administration calls a push for states to create their own rental programs and build more affordable housing.
- National Institute of Health: The NIH gets an $18 billion cut in the budget, with the proposal alleging it has "broken the trust of the American people" and failed to properly identify the origins of the COVID-19 virus.
- Climate: Trump's proposal cancels more than $15 billion in Infrastructure Investment and Jobs Act funds earmarked for renewable energy and carbon dioxide removal programs.
Go deeper: Non-defense spending slashed ... $1 trillion for the Pentagon
