The first budget proposed by the Trump administration plans to cut approximately $54 billion in funding to specific segments of the federal government, including the DOL, DOT, and EPA. The current budget plan, just released on March 16, lists the Department of Homeland Security, Departments of Defense, and Veterans Affairs as the only agencies that would receive funding increases in fiscal year 2018. Also on the chopping block are 19 independent agencies, including the Chemical Safety Board. This is big news for just about any industry dealing with chemical manufacturing, distribution, storage and use.
Current proposed cuts include:
- DOL: $2.5 billion – a 21 percent decrease
- DOT: $2.4 billion – a 13 percent decrease
- EPA: $2.6 billion – a 31 percent decrease from FY 2017
As expected, politicians from both sides of the aisle are expressing concerns on the impact of such a bold budget plan. Some perceiving the only priority in Washington was to spend beyond our means and far more than hardworking taxpayers can afford, while others are voicing concerns over potential negative impacts to labor and public safety and health. One thing is for sure, we will see a definite change in the way business and regulatory enforcement priorities are implemented as we move forward.
If passed, this budget seems to demonstrate the commitment of the Federal government to make similar hard choices in fiscal policy that business and families are having to make everyday.
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