The House budget committee unveiled a budget plan for the next fiscal year that would potentially cut $203 billion in mandatory spending and seek to balance the budget in roughly a decade, and the budget panel predicts the deficit could “turn into a $9 billion surplus by 2027”.

The Hill has the details:

The $1.132 trillion budget includes $621.5 billion for defense, a significant increase over both current levels and those proposed by President Trump. It contains $511 billion for nondefense discretionary spending, a cut from current spending but higher than Trump’s request.

It also includes $87 billion in spending for the global war on terror, though this funding is not subject to budget caps.

The Budget panel says its blueprint would reduce the deficit by $15 billion in 2018 and projects that the deficit would turn into a $9 billion surplus by 2027.

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