Obama to Send Congress Fiscal 2016 Budget on February 2Jonathan Allen
President Barack Obama will send his fiscal 2016 budget to Congress on Feb. 2, far earlier than he has released the annual spending-and-taxing blueprint in recent years.
“We look forward to working with Congress on returning to regular order in the annual budget process,” Melanie Roussell, an official at the White House’s Office of Management and Budget, said in confirming the date.
This year’s budget, which will be delivered less than two weeks after Obama’s Jan. 20 State of the Union address, will be the last that he will be in office to fully implement. It will be the first time he has delivered his budget on the target date set in law -- the first Monday of February -- since 2010.
Fiscal 2016 begins on Oct. 1.
In July, OMB projected a fiscal 2014 deficit of $583 billion -- the smallest in five years -- and and a fiscal 2015 deficit of $525 billion. Both were lower than the estimates in the budget that Obama released in March. Annual deficits were projected to fall every year until fiscal 2019, when the government would run $562 billion in the red, according to the budget office.