(MENAFN) US Treasury Secretary Steven Mnuchin had announced that the first budget proposal from US President Donald Trump will spare social welfare programs such as Social Security and Medicare from any cuts.
Munchin said that Trump would use a major policy speech to a joint session of Congress to preview some elements of his sweeping plans to cut taxes for the middle class and simplify the tax system and make American companies more globally competitive with lower rates and changes to encourage US manufacturing.
Mnuchin said of the programs, according to a transcript provided by Fox: "We are not touching those now. So don't expect to see that as part of this budget, OK, We are very focused on other aspects and that's what's very important to us. And that's the president's priority."
Earlier, Trump had promised during his election campaign not to cut Social Security, Medicare healthcare for seniors nor Medicaid healthcare for the poor.
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