White House budget proposed major cuts to social safety net and a tax cut for top earners Trump’s budget to slash Medicaid, children’s health insurance, food stamps, medical research, disease prevention funding, disability insurance, college financial aide, Planned Parenthood, and public assistance. On May 23, the White House released a federal budget proposal named “A New Foundation for American Greatness” that proposed tax reductions for top earners paid in part by cuts to numerous public assistance programs.