WASHINGTON – The Trump administration is expected to release a budget for the next fiscal year that will delay Republican-led tax cuts approved in late 2017, US media reported Sunday.

The White House is quoting a senior administration official saying that the White House is proposing to extend individual tax cuts to 2035 at a cost of $ 1.4 billion, and a budget plan will be presented Monday.

The fiscal 2021 budget, which runs from October this year to September next year, shows the deficit will reach $ 1 trillion this fiscal year and remain at $ 200 billion after a decade.

The tax changes introduced at the end of 2017 include permanent corporate tax cuts and individual tax cuts, which are set to expire by 2025.

By Chhouk Bora