President Donald Trump held a Cabinet meeting at the White House Wednesday and instructed each of its members to cut at least five percent from their department budgets.
"Some [Cabinet secretaries] will say, I can do much more than 5 [percent]," Trump said. "Get rid of the fat, get rid of the waste."
"It'll have a huge impact," he continued.
.@POTUS: “I’m going to ask each of you to come back with a 5 percent budget cut from your various departments…I’m sure everybody at this table can do it.” https://t.co/oX1btZv7qZ pic.twitter.com/y1uKQi4wNr— Fox News (@FoxNews) October 17, 2018
The Department of Defense may receive an exemption.
.@POTUS says new Department of Defense budget will likely be $700 billion:— FOX Business (@FoxBusiness) October 17, 2018
"That's a very substantial number, but it's defense, it's very important to us." https://t.co/HZ6BISpcgW pic.twitter.com/6MkGTXH19c
During an interview with Fox Business host Stuart Varney before the meeting, President Trump discussed additional ways to reduce spending and boost government revenue through economic growth.
The White House released a tipsheet Wednesday detailing how the administration will continue its work repealing burdensome and economically damaging regulations.
"An ever-growing maze of regulations, rules, restrictions has cost our country trillions and trillions of dollars, millions of jobs, countless American factories, and devastated many industries," President Trump said in a statement.