From the comments:
"This is more than 25%. The last real budget was FY24, $24.875B. In 2025 buying power, that was $26.8B (inflation has been high). The proposed FY26 budget of $18.8B is a 29% reduction to a number that was already down a bunch since 2020."
Well, China and Russia are happy, I guess. Space is all theirs now. Pretty sure whatever over-inflated junk muskrat wants to make will not compete.
Link: https://nasawatch.com/budget/nasa-fy-2026-budget-amputation-highlights/?ICID=ref_fark