Great ResignationDiversity and InclusionCompensationCEO DailyCFO DailyModern Board

Watch Live: Treasury Secretary Steven Mnuchin Testifies on Budget Plan

May 24, 2017, 5:02 PM UTC
Treasury Secretary Steven Mnuchin Testifies Before Senate Banking Committee
Steven Mnuchin, U.S. Treasury secretary, testifies during a Senate Committee on Banking, Housing, and Urban Affairs hearing at the the U.S. Capitol in Washington, D.C., U.S., on Thursday, May 18, 2017. Mnuchin's testimony is his first committee appearance since his controversial confirmation. Breaking up Wall Street banks would be a "huge mistake," Mnuchin told lawmakers Thursday. Photographer: T.J. Kirkpatrick/Bloomberg via Getty Images
T.J. Kirkpatrick—Bloomberg via Getty Images

Treasury Secretary Steven Mnuchin is scheduled to appear before a House committee Wednesday afternoon to discuss President Trump’s proposed budget plan on Wednesday.

The budget proposals have already drawn criticism from Democrats due to its large cuts to the social safety net, which includes programs like Medicaid. And while the president has proposed reducing funding for programs like Medicaid and the Centers for Disease Control and Prevention, it would increase funding for the military and border security.

Critics have argued that the proposal “double-counts” a projected $2.1 trillion in revenue growth, which is currently used to both pay for tax cuts and bring down the deficit.

Some Republicans have also acknowledged that the $4.1 trillion budget is unlikely to pass as proposed, with some vehemently opposing certain provisions.

Mnuchin is expected to speak at the House Ways and Means Committee at 2 p.m. E.T. Watch his testimony live above.