President Obama released his $3.8 Trillion 2013 budget proposal on Monday. White House Acting Budget Director Jeffrey Zients and other Obama Administration economic and domestic policy advisers held a briefing to outline the details.
This plan includes $4 trillion in deficit cuts projected over decade. The blue print also aims to lower it to about $901 billion for 2013 with proposed tax increases on upper income Americans.
The President travels to Annandale, Virginia, Monday and unveiled his budget plan at Northern Virginia Community College’s Annandale campus. He also released more details about the college affordability plan, part of the 2013 Budget Request.
House Republicans are likely to present their competing version of the budget request later this month.
The budget request serves as a baseline for budget negotiations in the coming months.