POLITICO title What to know about the federal budget crisis and how it could affect your life article “This is going to be a long one,” President Donald Trump told the Senate on Tuesday.
He and the rest of the White House team were scrambling to find the money to keep the government running through December 31.
“This will be a very difficult week for our country,” he said at a press conference, flanked by Cabinet members, lawmakers and others.
“So let me just say this. “
We have to make this right. “
So let me just say this.
We have to make this right.
We need to get it done.”
Trump was flanked by his Cabinet and top advisers, and said they were still trying to figure out what to do about the crisis.
“I am in the process of coming up with the plan that will save the American people from financial ruin,” he added.
“And we need to do it fast.”
While the government shutdown has ended, Trump and his team still have plenty of time to start spending money.
On Tuesday, Trump asked the Federal Reserve to start raising interest rates again, a move that could help the U.S. economy recover from the shutdown.
And the White, House and Congress will meet again on Wednesday to discuss how to avert a third debt-ceiling crisis, the latest of which has resulted in a shutdown and millions of layoffs.
Trump also said the administration is “working to reauthorize the Fannie Mae mortgage insurance program.”
The program, which provides subsidized mortgage loans to low-income borrowers, will reopen next week and will help boost home ownership, but Congress will not extend the program until next year.
Trump’s budget proposal includes a $5 trillion increase for the Pentagon, but many of the spending proposals, including $1 trillion for the border wall and $1 billion for an infrastructure package, are much smaller.
The president’s budget would also allow the Department of Veterans Affairs to continue its controversial plan to keep veterans out of medical facilities.
Trump, who announced the border and health spending measures during a Rose Garden news conference, said he would ask Congress to re-authorize a Veterans Health Administration fund, but he did not specify when.
Trump and Democrats are also pushing to make permanent the $1,200 tax credit that is currently set to expire at the end of next year and is now part of the GOP tax bill.
“The American people have had enough of the double standard in Washington, D.C.,” Senate Minority Leader Chuck Schumer (D-N.Y.) said in a statement.
“Congress must immediately extend these tax cuts and help Americans pay their fair share of taxes.”