Dec. 16 (Bloomberg) -- The impasse over deficit-reduction talks between the President Barack Obama and House Speaker John Boehner is delaying preparations for the fiscal 2014 federal budget, a White House official confirmed.
The Office of Management and Budget customarily tells federal departments and agencies in late November or early December the amount of money that will be proposed for their budgets in the coming fiscal year.
Because of the stalled talks, that process is being delayed, according the White House official, who asked for anonymity to discuss internal deliberations. The slowdown was reported earlier today by Politico.
The result may be a postponement of release of Obama’s fiscal 2014 budget from the planned date of Feb. 4, the first Monday in February. The White House official said there was no information available on revised timing for Obama to submit his next budget to Congress.
Obama and Boehner, an Ohio Republican have less than two weeks to reach a deal to avoid more than $600 billion in automatic spending cuts and across- the-board tax increases set to begin taking effect in January.
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