Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
The Trump administration is proposing major cuts to the U.S Coast Guard and other agencies to help pay for its crackdown on illegal immigration, Politico reported Tuesday after reviewing government budget documents.
The report said the Office of Management and Budget is seeking to cut the Coast Guard’s $9.1 billion budget by 14 percent, to $7.8 billion. The budget also proposes 11 percent cuts to TSA and FEMA, the report said, both of which fall under the Department of Homeland Security.
Overall however the DHS is looking at a 6 percent increase to its budget, to $43.8 billion, with major increases to agencies to hire more border agents and immigration officers, as well as $1.4 billion to help pay for the proposed border wall.
Read the Politico report here.
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