The budget proposal would also provide money to modernize the nation's aviation system by boosting safety and capacity, with $1 billion for the Next Generation Air Transport System.
Agency: Treasury Department
Total Spending: $500.2 billion
Percentage Change from 2013: 5.9 percent decrease
Discretionary Spending: $13.3 billion
Mandatory Spending: $486.9 billion
Highlights: The president's budget would boost discretionary spending by 6.1 percent from 2013, providing additional resources in several areas the administration considers to be priorities.
The budget would increase support to the Internal Revenue Service to boost efforts to enforce the tax laws to prevent tax evasion and cheating. The budget would also modernize the IRS so the agency can provide better service to taxpayers including efforts to provide faster refunds to taxpayers.
The budget would also provide resources to implement the 2010 Dodd-Frank Act passed by Congress to better regulate the financial system in the wake of the 2009 financial crisis. It would also support efforts to wind down the Troubled Asset Relief Program which provided government support to companies during the financial crisis.
The budget would also streamline the operations at the U.S. Mint, which produces the nation's coins, and the Bureau of Engraving and Printing, which produces U.S. currency. The budget proposes legislation to grant the Treasury secretary greater flexibility to save money by changing the composition of coins to more cost-effective metals.
Agency: Veterans Affairs
Total Spending: $149.5 billion
Percentage Change from 2013: 10 percent increase
Discretionary Spending: $63.5 billion
Mandatory Spending: $86 billion
Highlights: The president is proposing to increase spending by nearly $300 million for that part of the VA responsible for handling disability claims, an increase of more than 13 percent. More veterans are seeking compensation for wounds and illness incurred or aggravated while on active duty. The VA is struggling to keep up and the number of claims pending longer than 125 days has soared over the past four years.
The VA estimates that it will treat 6.5 million veterans in the coming fiscal year at its medical centers and outpatient clinics. Overall spending for VA health care will increase by about 2.5 percent, but certain services would grow at a much faster pace. For example, an increase of more than 13 percent is sought for mental health care, and an increase of 15 percent is sought for geriatric care.
The budget proposes to pare spending on major constructions projects, but includes money for the completion of a mental health center in Seattle and for the addition of three new national cemeteries: two in Florida and one in Omaha, Neb. The VA's spending on research would flatten under the president's budget.
The president is also repeating his call for establishing a Veterans Job Corps, which would dedicate $1 billion over five years putting veterans to work improving public lands and working in law enforcement and firefighting jobs, but the same proposal went nowhere last year.
Veterans who get monthly disability payments would get slightly stingier cost-of-living increases through an inflation adjustment known as "chained CPI." About 500,000 low-income, war-time veterans and survivors would be exempted from that change.