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Budget outlines major cuts and defense
The president proposes a 1 trillion budget with farm program cuts to 26.3 billion and a 10 percent annual reduction in target prices to curb overproduction. AIDS funding rises 28 percent to 118 million, while college loans and campus jobs subsidies are eliminated. Space and international aid rise, but mass transit grants fall and oil reserves are sold. Congress faces a tough battle as Democrats warn of tough negotiations ahead.
MENTIONED IN THIS ARTICLE
Reagan
Capitol Hill
House
Robert Michel
Illinois
Congress
Amtrak
Bonneville Power Administration
California
Wyoming
Internal Revenue Service
National
Congressional
Administration
Nicaragua
Tennessee Valley Authority
Federal Housing Administration
FHA
Veterans Administration