White House will unveil Trump’s 2026 budget, his first since returning to power

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WASHINGTON (AP) — The White House is planning on Friday to unveil President Donald Trump’s 2026 budget, a sweeping framework that is expected to propose steep reductions, if not a wholesale zeroing out, of various federal programs as part of his administration’s priorities.

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Budgets do not become law but serve as a touchstone for the upcoming fiscal year debates. Often considered a statement of values, this first budget since Trump’s return to the White House carries the added weight of defining the Republican president’s second-term pursuits, alongside his party in Congress.

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The White House’s Office of Management and Budget, headed by Russell Vought, a chief architect of Project 2025, confirmed Friday’s planned release. It is expected to be the so-called “skinny” version of topline numbers, with more details to come.

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“Details soon,” Vought said during a Cabinet meeting this week at the White House.

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The nation’s estimated $7 trillion-plus federal budget has been growing steadily, with annual deficits fast approaching $2 trillion and the annual interest on the debt almost $1 trillion. That’s thanks mostly to the spike in emergency COVID-19 pandemic spending, changes in the tax code and climbing costs of Medicare, Medicaid and other programs, largely to cover the nation’s health needs as people age. The nation’s debt load, at $36 trillion, is ballooning.

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This year’s presidential budget request is expected to show deep reductions in spending, some reflective of the cuts already made by Trump’s actions and adviser Elon Musk’s Department of Government Efficiency, including the slashing of the government workforce. It also could point to potential new revenue streams, possibly from Trump’s tariffs program.

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Democrats are prepared to lambast Trump’s budget as further evidence that the Republican administration is intent on gutting government programs that Americans depend on.

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It comes as Congress is already deep into the slog of drafting of Trump’s big bill of tax breaks, spending cuts and bolstered funds for the administration’s mass deportation effort — a package that, unlike the budget, would actually carry the force of law.

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House Speaker Mike Johnson, who spoke with Trump multiple times this week, is racing to have the president’s “big, beautiful bill” approved by the House by Memorial Day and sent on to the Senate.

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“We had a very productive and encouraging meeting at the White House this morning, and the remaining pieces of ‘The One, Big Beautiful Bill!’ are coming together very well,” Johnson, R-La., said in a statement after Thursday’s meeting with Trump and various committee chairmen.

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But there remain deep differences among the Republicans, who are trying to pass that big bill over the objections of Democrats.

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“We are awaiting some final calculations on a few of the tax components, and we expect to be able to complete that work on a very aggressive schedule,” Johnson said.