President Barack Obama sends his 2012 budget proposal to Congress tomorrow, and a summary obtained by The Associated Press indicates the administration will propose more than $1 trillion in deficit reduction over the next decade.
Two-thirds of that will come from spending cuts. House Speaker John Boehner (BAY'-nur) is calling on the president to support GOP efforts to cut some $61 billion in this year's budget.
Among the programs expected to be trimmed are Pell Grants and other higher education programs.
Administration officials say the budget plan calls for $100 billion in savings over 10 years.
Most of the savings would come through two changes: an end to a policy
that allows students to collect two grants in a calendar year and a reduction in loan subsidies for graduate and professional students.
The savings would keep the maximum aid award at $5,550.
House Speaker John Boehner (BAY'-nur) is calling on President Barack Obama to support Republican efforts to make deep cuts in this year's budget as a down payment on efforts to attack soaring deficits.
The Ohio Republican sent a letter to Obama today, saying the path to prosperity means "liberating our economy from the shackles of out-of-control government spending and big government."
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.