President Obama Releases Fiscal Year 2015 Budget Proposal

摘要

On March 4,2014, President Obama released his proposed budget for the federal Fiscal Year (FY) 2015, which begins on October 1,2014. The president's $3.901 trillion budget request proposes $1.065 trillion in discretionary funds. Of that amount, $1.014 trillion is consistent with the caps in the December budget deal (P.L. 113-67) negotiated by Representative Paul Ryan (R-WI) and Senator Patty Murray (D-WA). The annual release of the president's budget begins the nearly yearlong U.S. federal budget process. The Senate has already stated they will not be releasing their own budgetary proposal, and the House has not made a final decision on whether they will advance their own budget proposal this year. Both the House and Senate will need to develop FY 2015 appropriations bills. Once both the House and Senate have approved their appropriations bills, they will work together to resolve any differences in a conference committee before sending final FY 2015 spending proposals to the president for his signature.