• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

3

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all

1

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back

2

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

3

When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
FinanceEconomy

DNC Head Calls Trump Budget Plan “Unconscionable”

By
Stephen Gandel
Stephen Gandel
and
Annalyn Kurtz
Annalyn Kurtz
Down Arrow Button Icon
By
Stephen Gandel
Stephen Gandel
and
Annalyn Kurtz
Annalyn Kurtz
Down Arrow Button Icon
March 16, 2017, 2:51 PM ET
US-POLITICS-LABOR-OBAMA
US Labor Secretary Tom Perez speaks as President Barack Obama listens during a town hall meeting at the Summit on Worker Voice at the White House in Washington, DC, on October 7, 2015. AFP PHOTO/NICHOLAS KAMM (Photo credit should read NICHOLAS KAMM/AFP/Getty Images)Nicholas Kamm — AFP/Getty Images

Newly elected chair of the Democratic National Committee Tom Perez, and former Labor Secretary, has some tough criticisms of the Donald Trump’s budget proposal released Thursday.

In an interview with Fortune, Mr. Perez, who has said he wants to be President Trump’s “worst nightmare,” says the budget blueprint shows Trump is “looking out for his friends on Wall Street at the expense of Main Street.”

Perez said he is particularly troubled by the proposed cuts to the Environmental Protection Agency, as well as the way Trump’s proposals could adversely impact American workers.

“Budgets are moral documents,” he said. “They reflect the values of any government and when you’re compromising clean air, clean water, and lead, you’re making a statement about communities you don’t care about.

President Trump’s proposal calls for a $54 billion increase in defense spending, paid for by cuts in other discretionary non-defense spending. Budgets for the EPA, as well as the departments of State, Agriculture and Labor would each be slashed more than 20%.

Perez previously served for three years as the Secretary of Labor under President Barack Obama’s administration, and had some particularly strong feelings about the slash to the agency he once managed, calling it “unconscionable” for Trump to run on a platform of helping workers and then slash investments in job training.

“When you cut investments in worker training, you’re cutting investments in the middle class,” Perez said.

President Trump has proposed cutting the Department of Labor’s budget by $2.5 billion, or 21%. That cut includes reductions in job training programs.

A program serving low-income unemployed seniors, the Senior Community Service Employment Program, would be completely eliminated, and grants for job training would be decreased, shifting the funding burden for these programs to states, localities, and employers.

At the same time, the proposal would expand one-on-one interviews of the unemployed in an effort to reduce improper and fraudulent unemployment benefit payments.

While the proposal lacks further details on the Department of Labor’s other programs, Perez raised concerns that the budget cuts will weaken the agency’s ability to enforce labor laws. The Department of Labor’s Wage and Hour Division claims to have recovered nearly $1.6 billion in back wages for more than 1.7 million workers since 2009.

“It is a time-honored practice of right wing governments to starve funding for enforcement,” Perez said. “It’s imperative for our enforcement agencies to be a credible threat. There are massive violations of wage and hour laws out there—we need to be those officers on the beat.”

Mr. Perez also said cuts to civil servant jobs may disproportionately affect minorities and women. The public sector has long been thought of as a place where minorities and women could get a toe-hold into middle class jobs, and perhaps face less discrimination than in the private sector.

Mark Zandi, chief economist for Moody’s Analytics estimates Trump’s budget proposal could lead to the loss of 100,000 to 200,000 civilian government jobs.

“Federal government has been a gateway to the middle class for people of color for generations,” Perez said. “I am proud of our diversity, and when you attack the federal workforce you are having significant impact on women — many of whom are single moms working to support their family – and you’re having a significant impact on communities of color.”

About the Authors
By Stephen Gandel
See full bioRight Arrow Button Icon
By Annalyn Kurtz
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

‘I gave SpaceX less than a 10% chance of succeeding’: Elon Musk addresses Nasdaq ahead of SpaceX IPO
InvestingSpaceX
‘I gave SpaceX less than a 10% chance of succeeding’: Elon Musk addresses Nasdaq ahead of SpaceX IPO
By Catherina GioinoJune 12, 2026
1 hour ago
Roche and Nestlé fear talent crunch as Switzerland puts population cap to the polls
EuropeSwitzerland
Roche and Nestlé fear talent crunch as Switzerland puts population cap to the polls
By Sam ForsdickJune 12, 2026
2 hours ago
Current price of Bitcoin for June 12, 2026
Personal FinanceCryptocurrency
Current price of Bitcoin for June 12, 2026
By Joseph HostetlerJune 12, 2026
3 hours ago
Current price of Ethereum for June 12, 2026
Personal FinanceEthereum
Current price of Ethereum for June 12, 2026
By Joseph HostetlerJune 12, 2026
3 hours ago
Top CD rates from major banks June 12, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on June 12, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJune 12, 2026
3 hours ago
Current price of gold as of June 12, 2026
Personal Financegold prices
Current price of gold as of June 12, 2026
By Danny BakstJune 12, 2026
3 hours ago

Most Popular

Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
Environment
Corporate America has been draining the world's water. Matt Damon's new campaign calls on Gap, Starbucks, and Amazon to help give it back
By Catherina GioinoJune 9, 2026
3 days ago
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
2 days ago
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
Investing
When SpaceX starts trading, some 'shareholders' will discover they own nothing at all
By Jim EdwardsJune 12, 2026
6 hours ago
Current price of oil as of June 11, 2026
Personal Finance
Current price of oil as of June 11, 2026
By Joseph HostetlerJune 11, 2026
1 day ago
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
Innovation
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
By Amanda GerutJune 9, 2026
3 days ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.