The White House plans to release its proposed fiscal year 2016 budget to Congress on Feb. 2, The Hill newspaper reported Wednesday.Bernie Becker writes that this would be the first on-time release of the fiscal framework since 2010 as both Capitol Hill and the White House seek a return to regular order on the budget process.
Budget disagreements on issues such as tax increases and entitlement spending have hindered the framework’s passage in previous fiscal years, the report said.
Jonathan Allen reports for Bloomberg that the Office of Management and Budget expects the federal deficit to decline through fiscal 2019 with a $525 billion deficit projected for fiscal 2015.
According to Bloomberg, that figure is lower than the estimated deficit included in the most recent budget submitted by the White House.
