Trump’s “Skinny” Budget Expected This Week

CCH Tax Day Report

The Trump administration is expected to release the outline of its federal budget proposals on March 16. The outline, sometimes referred to as a “skinny budget,” will likely describe some spending priorities and cuts.

The budget outline may also include a proposed budget for the IRS and a preview of the Trump administration’s infrastructure plans. There has been some discussion that Trump will address infrastructure in a separate package outside of the budget.

There was talk in February that the skinny budget may contain some tax proposals, but a statement by the Office of Management and Budget (OMB) Director Mick Mulvaney on February 28 indicated otherwise (TAXDAY, 2017/02/28, W.1). According to Mulvaney, tax policy items will likely be included in the full budget instead, expected to be released in May.

By Jessica Jeane, Wolters Kluwer News Staff

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