US President Donald Trump's administration has unveiled a budget plan for the fiscal year starting in October that contains heavy cuts to some programs in an attempt to get the federal budget back in balance.

The proposal would ramp up military spending with an allocation of 705 billion dollars to the Defense Department.

But it would cut funds for the State Department and foreign aid from the current year by 11.7 billion dollars, a decrease of 22 percent -- the clear sign that Trump will take his "America First" platform back to the polls when he seeks re-election later this year.

The plan says the US "will continue to press its allies to give more in providing for their own defense."

The budget suggests a 15-year target for eliminating the federal deficit, which has swollen under the Trump administration, partly as a result of its deep tax cuts.

But it is predicated on sustained annual economic growth of roughly three percent, significantly higher than the current rate, and will likely raise questions about how realistic it is.