Rep. Waters Issues Statement on President Trump's FY 2019 Budget Proposal - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
February 16, 2018 Newswires
Share
Share
Post
Email

Rep. Waters Issues Statement on President Trump’s FY 2019 Budget Proposal

Targeted News Service

WASHINGTON, Feb. 15 -- Rep. Maxine Waters, D-California, ranking member of the House Financial Services Committee, issued the following statement on President Trump's fiscal 2019 budget proposal:

"After signing a $1.5 trillion tax scam into law, Donald Trump has now presented an unconscionable, unreasonable, and unbalanced budget to the U.S. Congress. Donald Trump's fiscal year 2019 budget proves just how little regard he has for the American people and the well-being of our economy.

"If this president were a serious leader, or a man with a shred of human decency, he wouldn't have put forth such a reckless proposal to slash programs like Social Security, Medicare, and Medicaid and gamble with the future of education, public housing, health care, and environmental protections in this country.

"While Donald Trump prioritizes the rich at the expense of the middle-class and the social safety net, I will continue to fight for a budget that protects communities in California's 43rd Congressional District as well as children, seniors, veterans, people with disabilities, and working families all across this country."

The following programs and services would face extreme cuts under the Trump proposal:

* SOCIAL SECURITY: Donald Trump's budget cuts $10.3 billion in Social Security disability benefits over 10 years.

* MEDICARE: Donald Trump's budget cuts $500 billion from Medicare over 10 years.

* MEDICAID: Donald Trump's budget cuts an astonishing $1.4 trillion from Medicaid over 10 years.

* HEALTH: Donald Trump's budget repeals the Affordable Care Act (Obamacare), thereby cutting $675 billion over 10 years and taking health insurance away from millions of Americans. It also cuts more than $1 billion from the Centers for Disease Control, $310 million from substance abuse and mental health programs, $145 million from the Nursing Workforce Development Program, and $43 million from the Ryan White HIV/AIDS Program.

* EDUCATION: Trump's budget makes college more expensive by cutting $203 billion over 10 years in student loan assistance, while cutting funding for the Department of Education by 5.6 percent ($3.8 billion) in fiscal year 2019.

* NUTRITION: Donald Trump's budget cuts food stamps, formally known as the Supplemental Nutrition Assistance Program (SNAP), by $17 billion in 2019 and more than $213 billion over the next decade. It also proposes to change the way SNAP works by providing part of the benefits in the form of a box of food assembled by a new government bureaucracy.

* TRANSPORTATION: Donald Trump's budget cuts funding for the Department of Transportation by 14 percent in fiscal year 2019, despite Trump's promise to invest in infrastructure. It slashes highway, transit, and highway safety funding by $122 billion over 10 years and completely eliminates the TIGER grant program, which funds investments in transportation infrastructure by states and local transit agencies (e.g. Metro).

* HOUSING: Donald Trump's budget cuts funding for the Department of Housing and Urban Development by more than 24 percent (over $9 billion) in fiscal year 2019. It completely eliminates the Housing Trust Fund, the Choice Neighborhoods Initiative, and the Community Development Block Grant program, and it severely underfunds Section 8 Housing Choice Vouchers, Section 811 Housing for Persons with Disabilities, the Housing Counseling program, the Lead Hazard Reduction program, and the Housing Opportunities for Persons with AIDS program.

* ENVIRONMENT: Donald Trump's budget cuts funding for the Environmental Protection Agency by 26 percent in fiscal year 2019. It cuts clean air programs by 46 percent and cuts $1.3 billion from energy efficiency and renewable energy, while simultaneously increasing fossil fuel energy research and development by more than $80 million. It also completely eliminates the Chemical Safety Board, which investigates serious chemical accidents and is currently investigating an explosion at the Torrance Refinery in my congressional district.

* LABOR: Donald Trump's budget cuts funding for the Department of Labor by almost $1.2 billion in fiscal year 2019. It cuts $407 million from Job Corps, $24 million from the National Labor Relations Board, $11 million from the Office of Disability Employment Policy, and $1 million from the Equal Employment Opportunity Commission.

Older

Pro-Choice Caucus Leaders Call on Secretary Azar to Fire Director Lloyd Due to His Ongoing, Blatant Disregard for Women’s Constitutional Rights

Newer

Deadline Nearing for Sales Tax Relief Available to Sevier County Wildfire Victims

Advisor News

  • Americans unprepared for increased longevity
  • More investors will seek comprehensive financial planning
  • Midlife planning for women: why it matters and how advisors should adapt
  • Tax anxiety is real, although few have a plan to address it
  • Trump targets ‘retirement gap’ with new executive order
More Advisor News

Annuity News

  • AIG to sell remaining shares in Corebridge Financial
  • Corebridge Financial, Equitable Holdings post Q1 earnings as merger looms
  • AM Best Assigns Credit Ratings to Calix Re Limited
  • Transamerica introduces new RILA with optional income features
  • Transamerica introduces RILA with optional income features
More Annuity News

Health/Employee Benefits News

  • agilon health Reports First Quarter 2026 Results
  • Genworth reports Q1 earnings, shifts focus to exclude legacy blocks
  • Aetna drives CVS to $100B quarter as earnings soar
  • Record number of Washingtonians drop health insurance after loss of tax credits
  • GLP-1 costs loom large for employers
More Health/Employee Benefits News

Life Insurance News

  • Brighthouse Financial Announces First Quarter 2026 Results
  • Life insurance premium jumps 10% in 1Q
  • Genworth Financial Announces First Quarter 2026 Results
  • Transamerica agrees to $57M settlement in cost-of-insurance lawsuit
  • The next step for AI in insurance — partnerships to scale
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Why Blend in When You Can Make a Splash?
Pacific Life’s registered index-linked annuity offers what many love about RILAs—plus more!

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Discipline Over Headline Rates
Discover a disciplined strategy built for consistency, transparency, and long-term value.

Inside the Evolution of Index-Linked Investing
Hear from top issuers and allocators driving growth in index-linked solutions.

Press Releases

  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
  • ePIC Services Company Joins wealth.com on Featured Panel at PEAK Brokerage Services’ SPARK! Event, Signaling a Shift in How Advisors Deliver Estate and Legacy Planning
  • Hexure Offers Real-Time Case Status Visibility and Enhanced Post-Issue Servicing in FireLight Through Expanded DTCC Partnership
  • RFP #T01325
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet