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Obama proposes 4.1 trillion USD spending plan in final White House budget

Xinhua, February 10, 2016 Adjust font size:

U.S. President Barack Obama on Tuesday laid out his final budget proposal, seeking 4.1 trillion U.S. dollars of spending plan for the fiscal year 2017.

The budget proposal highlights Obama's priorities for fighting climate change, helping the poor, increasing taxes for the wealthy, and strengthening national security.

"The budget is a roadmap to a future that embodies America's values and aspirations: a future of opportunity and security for all of our families; a rising standard of living; and a sustainable, peaceful planet for our kids," Obama said in a letter sent to the Congress on Tuesday.

The budget plan envisions a deficit of 503 billion U.S. dollars in fiscal year 2017, lower than the 616 billion dollars of budget gap for current fiscal year which ends on Sept. 30.

The spending proposal stayed within the confines of an agreement reached between the White House and Congress last year that lifted mandatory "sequestration" cuts on both defense and domestic spending.

It calls for 320 billion U.S. dollars to promote clean transportation infrastructure, and another 11 billion dollars for clean energy. The budget also seeks 150 billion U.S. dollars to boost research and development in areas from biomedical research to space exploration, and 19 billion dollars for cyber-security.

The proposal requests more than 11 billion dollars for the Departments of Defense and State to fight Islamic State militants and stabilize Syria.

The proposed budget also calls for the lift of sequestration in 2018 and beyond. It also seeks to cut deficits by 2.9 trillion dollars over the coming decade through reforms in health programs, the tax code, and immigration.

The budget for the fiscal year 2017 which begins on Oct. 1 is unlikely to be passed by the Republican-controlled Congress. Leaders of the House and Senate budget panels have already said they will not even give the proposal a hearing.

Although there is little chance that the budget will be passed in the Congress, there are some areas that the White House and the Congress can agree on, such as funding for cancer research and expanding the Earned Income Tax Credit to childless adults. Enditem