Obama to release 2015 budget March 4

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WASHINGTON (AP) — The White House says that President Barack Obama's budget for next year will be released on March 4, about one month behind schedule.

Budget office spokesman Steve Posner says the release will be late because Congress was late to finish up an omnibus spending bill for the current fiscal year. He said that action means the administration can now wrap up work on its budget tome.

Lawmakers in both House and Senate hope that a budget deal last month will bring a semblance of order to the annual appropriations process, but that may be a tall order in an election year.

The annual budget lays out the administration's wish list. Republicans controlling the House mostly ignore its major recommendations, which include a tax increase on corporations and wealthier individuals.

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