In FY 2017, from 10/16
to 9/17, US Federal Tax Revenues totaled $3.315 trillion and Spending totaled
$3.981 trillion. The 2017 deficit was $665.826 billion.
In FY 2018, from 10/17
to 7/18, US Federal Tax Revenues totaled $2.77 trillion and Spending totaled
$3.45 trillion. The 2018 deficit so far is $683.965 billion.
Income Tax Cuts in
2018 provided a 14% reduction in Corporate Earnings Tax Rates from 35% to 21%
and Corporate Expatriation Tax Rates from 35% to 10%.
Norb Leahy, Dunwoody
GA Tea Party Leader
US Federal Spending
Cuts were proposed by President Trump with cuts in EPA of 31%, State Department
29%, Labor 21%, Agriculture 21%, HHS 18%, Commerce 16%, Education 14%, HUD 13%,
Transportation 13%, Interior 12%, Energy 6%, SBA 5%, DOJ 4%, Treasury 4% and
NASA 1%.
US Federal Spending
Increases were proposed by President Trump with increases in Defense 9%,
Homeland Security 7% and Veterans 6%.
Trump’s economic
recovery program includes increasing US oil and natural gas production,
returning manufacturing to the US, ending intellectual property theft, reducing
the US trade deficit, increasing US citizen employment opportunities and
transitioning from welfare to work.
Trump’s national
security program includes securing US borders, ending illegal immigration,
eliminating drug cartel activity and restoring the US military.
Legislative priorities
going forward include repealing Obamacare and allowing much less expensive
basic medical coverage for medically necessary rescue and repair, repealing
current immigration laws, cutting welfare for immigrants and passing
Immigration policies based on merit and labor needs.
Norb Leahy, Dunwoody
GA Tea Party Leader
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