Earlier this week, the White House announced that the President’s Fiscal Year 2016 Budget proposal will be sent to the Congress by February 2, 2015. The President’s Budget proposal details the vision for U.S. Fiscal Policy, outlines how much funding each federal agency needs to carry out their mission, and informs Congress of any changes to spending or tax policy the President may seek to impose. Under federal law, the President is required to submit his proposed Budget to Congress the first Monday in February.
