<Li> Discretionary spending: The budget cuts discretionary spending by a net $1,851 billion over the 2018 - 2027 period . This includes reduced spending of $752 billion for overseas contingency operations (defense spending in Afghanistan and other foreign countries), which is partially offset by other increases in defense spending of $448 B, for a net defense cut of $304 B. Other discretionary spending (cabinet departments) would be reduced by $1,548 B . </Li> <Li> Revenues would be reduced by $1,000 B, mainly by repealing the ACA, which had applied higher tax rates to the top 5% of income earners . Trump's budget proposal was not sufficiently specific to score other tax proposals; these were simply described as "deficit neutral" by the Administration . </Li> <Li> Deficits: CBO estimated that based on the policies in place as of the start of the Trump administration, the debt increase over the 2018 - 2027 period would be $10,112 B. If all of President Trump's proposals were implemented, CBO estimated that the sum of the deficits (debt increases) for the 2018 - 2027 period would be reduced by $3,276 B, resulting in $6,836 B in total debt added over the period . </Li> <Li> CBO estimated that the debt held by the public, the major subset of the national debt, would rise from $14,168 B (77.0% GDP) in 2016 to $22,337 B (79.8% GDP) in 2027 under the President's budget . </Li>

When will the 2018 federal budget be approved