WASHINGTON, April 10 (UPI) -- U.S. President Barack Obama proposed Wednesday to cut the Treasury Department's discretionary funds in 2014 but not to turn away from regulatory reforms.
The proposed budget for the department in the fiscal year beginning in October would allow for $14.2 billion in discretionary funding. Excluding investments in the IRS, the proposal calls for a 2.3 percent spending reduction for the Treasury Department from the 2012 level enacted by Congress.