Trump’s budget generally left the Treasury Department alone — except for the IRS. The budget seeks to cut IRS funding by $2.5 billion. The agency has already frozen hiring, initiated broad-based layoffs and paused a Biden-era technology modernization process under the direction of officials from the U.S. DOGE Service.

President Donald Trump’s 2026 budget plan would slash non-defense domestic spending by $163 billion, while increasing expenditures on national security.