President Donald Trump on Monday released his proposal for the fiscal year 2019 budget, which allocates an investment of $18 billion to build a wall along the U.S.-Mexico border and calls for cuts to several federal agencies.

The White House budget proposal covers Oct. 1, 2018, through Sept. 30, 2019. It serves as a reminder of the administration's priorities for the next year.

The proposal calls for major spending cuts to several domestic government programs, which it estimates could save nearly $700 billion in 10 years. The cuts include “repealing and replacing” Obamacare, more than $200 billion in cuts to the Supplemental Nutrition Assistance Program (SNAP), and $266 billion in cost reduction in Medicare.

The budget also includes a $1 trillion infrastructure program, $70.7 billion in funding for veterans' medical care, and $7 billion to combat opioid addiction.

The administration's proposal also allocates $716 billion in defense spending following a bipartisan budget agreement approved by Congress last week that raised budget caps for defense by $165 billion through 2019.

The defense spending request includes $617 billion in base funding and $69 billion in cap-exempt wartime funds. The budget also calls for the purchase of 10 new naval ships and would allow the Air Force to grow from 55 combat squadrons to 58 over the next five years, according to Defense News.

Trump is also proposing increased spending on border security.

In addition to the administration's $18 billion border wall request, the president is seeking funding for 750 new border patrol agents, new Immigration and Customs Enforcement (ICE) agents, and 52,000 new detention beds to allow ICE to house the highest-ever average daily capacity of undocumented immigrants.

Read President Trump's full fiscal year 2019 budget here.