Eric Ueland of the Senate Budget Committee distributes copies of US President Barack Obama's Fiscal Year 2017 budget on Capitol Hill in Washington, DC, February 9, 2016. AFP / Saul LOEB
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U.S. President Barack Obama proposed a $4.1-trillion spending plan for fiscal year 2017 Tuesday in a final White House budget that met immediate Republican resistance for its cost and reliance on tax hikes to fund domestic priorities.The budget envisions a deficit of $503 billion in fiscal 2017 after a $616 billion budget gap in the current fiscal year ending on Sept. 30 .The budget seeks $19 billion for cybersecurity investments across the U.S. government.The budget forecasts that deficits would average 2.5 percent of U.S. economic output over 10 years, compared to about 4.0 percent in the Congressional Budget Office's estimate, which is based on existing tax and spending laws.Underscoring that divide and the fact that the budget is Obama's last, Republican lawmakers took the unusual step of not inviting Obama's budget director Shaun Donovan to brief about the proposal.Republicans are especially resistant to the White House's tax proposals.
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