award for his work on the show empire for the fourth year in a row. yeah, he was nominated before the whole ordeal. the show is saturday. it s still unclear if he will attend. all right, thank you. next to the battle over funding the special olympics, education secretary betsy devos taking heat on capitol hill again today for cutting the games from her budget. president trump feeling the heat as well. late today a reversal. the president overriding the second stair, saying the program will get its money. here s mary bruce. reporter: facing growing outrage over his move to slash funding from the special olympics, tonight president trump with an abrupt about face. i ve been to the special olympics. i think it s incredible. reporter: the administration called for cutting all federal money for the special olympics, $17.6 million. a tiny fraction of the president s $4.75 trillion budget. but a significant chunk of funding for the games which give people with intellectual
here s abc s senior national correspondent terry moran. reporter: for more than 50 years, the special olympics have been part of a revolutionary movement, putting people with intellectual disabilities front and center, in a new light on the world stage. for decades, the government supported the games. but now the trump administration wants to eliminate all federal funding. i still can t understand why you would go after disabled children in your budget. you zero that out. it s appalling. reporter: on capitol hill, education secretary betsy devos under fire. asked how many young athletes would be impacted we had to make some difficult decisions with this budget. again, this is a question on how many kids, not about the budget. i don t know the number of kids. no problem. it s 272,000 kids. let me just say i think special olympics is an awesome organization, one that is well supported by the philanthropic sector as well. reporter: the $17.6 million the games receive f
declaration and the president send congress a record of $4.75 trillion budget for fiscal year 2020 calling for increased military spending and decreasing the education department budget by more than $7 billion. and i would now like to bring in the tri-caucus panel, congresswoman judy chu and chair of the asian caucus. also congresswoman eve yet clark and from california aid re ano espaillat. it is a great gathering today. and i will start in the studio first, let me ask you this, if i may, representative clark, what do you make of the budget? this move away from education, which brought one point up and increase in military spending. is it going to make it past the house? no. there is no way that we can vote for such a budget. we know that these cuts to these central services of our nation
welcome back, everyone. i m ayman mohyeldin alongside louis burgdorf. it s the bottom of the hour. let s start with the morning s top stories. president trump has formally submitted his 2020 budget to congress and it appears his promises to slash the government s debt will be easier said than done. he s proposing a $4.75 trillion budget with a focus on increasing military spending. the defense department s budget is to be boosted by $33 billion to $718 billion or more than half of the entire proposed federal discretionary budget. the plan also calls for $8.6 billion to be set aside for construction of trump s wall along the southern border with mexico. the budget would slash $845 billion from medicare over the next ten years. it would also remove $241 billion from medicaid over that same period. now the blueprint also aims to
other financial stocks like morgan stanley. investment bank goldman sachs net income declined 58% in the fourth quarter. but the company still made a billion dollars and beat analysts estimates. ebay s net income in the fourth quarter was almost $2 billion. it was helped by higher revenue and the sale of its remaining interests in skype. factory output surged in december by the most in a year. there was stronger demand for business equipment, vehicles and energy as manufacturing rebounds from the recession. foreign demand for u.s. treasury debt rose in november to the highest level ever. total foreign holdings increased to $4.75 trillion. the international monetary fund plans to raise an extra $500 billion so it can issue new loans. the imf says the euro zone nations may need to borrow a trillion dollars in coming years. eastman kodak fired for bankruptcy today in a bid to survive a liquidity crisis. the company had years of falling