WATCH | President Trump will deliver his "skinny budget" proposal to Congress this week and it's sure to be a doozy. Here's what you can expect to see in Trump's plan.
The roughly $1 trillion proposal only deals with discretionary spending -- optional federal funding that has to be renewed annually.
It's "skinny" because it only covers about a third of total federal spending. It doesn't account for massive entitlement programs like Medicaid, Medicare and Social Security.
What does Trump want to spend money on?
The military. Trump's expected to call for a $54 billion increase in defense spending.
That means beefing up resources like navy ships, fighter jets, troop numbers, cybersecurity tools and training, etc. Trump may also call for more money to strengthen the U.S.' nuclear arsenal.
Trump's budget will likely call for Congress to appropriate the money to pay for his border wall.
Cost estimates for the wall vary, the White House says it will cost about $12 billion, Republicans in Congress think it's closer to $15 billion while the Department of Homeland Security has predicted the wall could cost over $21 billion, according to Reuters.
If you're worried about National Security and defending the border, then this is good news, but it comes at a cost.
The Environmental Protection Agency is bracing for major cuts in Trump's budget proposal.
This will likely lead to big staff cuts at the EPA and major scaling back on research on climate change.
The budget could also target EPA programs that regulate pollution and emissions by power plants.
Trump has repeatedly touted an "America first" policy and he's expected to act on that promise by cutting U.S. foreign aid and the State Department's budget.
Trump will also reportedly ask for a 50 percent cut in funding to the U.N. which could have a big impact on peacekeeping and humanitarian projects overseas.
The White House is also reportedly considering deep cuts to the Department of Energy as well.
Those cuts will likely affect programs dealing with energy efficiency and research into sustainable energy and renewable fuels.
The Department of Housing and Urban Development may also be in Trump's budget crosshairs.
That department has been blasted for wasteful spending in recent years and Trump may seek to clamp down on that with budget cuts.
Those cuts could lead to the end of some public housing programs, but they could also streamline spending at the agency which could lighten the tax burden down the road.
Trump's administration wants to prioritize spending on charter school and school choice programs, so if you're a fan of that this budget will probably check that box.
But the money for those programs could come from cuts to public education, including after-school and extended day enrichment programs and professional development programs for teachers.
Shrinking the government
Trump has repeatedly said he will "drain the swamp" in Washington D.C. and his budget could pull the plug by gutting the federal workforce.
So if you're working or hope to work for a federal agency, especially ones dedicated to environmental research and social services, this budget probably wont be good for you.
But major investment in infrastructure and technology could spur job growth in the private sector down the road.
It's just a proposal
Whether you think Trump's plan sounds terrific or terrible, it's unlikely to pass without some changes.
That's because Congress holds the government purse strings.
Democrats are already vowing to fight back on the proposal and some Republicans are wary about the extreme domestic spending cuts.
it could all lead to another budget shutdown showdown in April, when the current budget is set to expire.