President Barack Obama will lay out the details later today of a nearly $4 trillion fiscal 2016 budget, which would run a $474 billion deficit, senior administration officials said Sunday on a conference call previewing the document. The budget is aimed at improving the nation’s infrastructure and boosting middle-class Americans, but at a cost of tax increases and spending above caps set in a bipartisan deficit-reduction agreement, the Wall Street Journal reports.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Obama to Propose Tax on Overseas Earnings
- Way Forward on 'Fiscal Cliff' Uncertain
- Obama Asks FCC to Protect Net Neutrality
- Obama to Propose Highway-Repair Program
- Obama Faces Pressure to Lead on Fiscal Cliff After Victory
- Expedia to Buy Orbitz for $1.3 Billion
- Obama Signs Bipartisan Budget Deal
- Oil Prices Continue to Drop