Economic news

U.S. budget is expected to reach $1 trillion annually in 2019

The U.S. President Donald Trump's administration proposed a $4.4 trillion budget plan on Monday for the 2019 fiscal year. The plan includes $200 billion for rebuilding the nation’s infrastructure, including roads, bridges, tunnels and airports.

Photo: REUTERS/Jonathan Ernst

Mr. Trump intends that the promise to invest significant amounts of budget funds will encourage state and local governments and the private sector to invest $ 1.5 trillion in the U.S. infrastructure projects.

The new budget sees accumulating deficits of $7.2 trillion in the next decade, while Trump's plan last year suggested a 10-year shortfall of $3.2 trillion.

The draft U.S. budget, submitted by the White House, will have to be approved by Congress.

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