Biden budget preview slips into next week

The White House Office of Management and Budget is expected to release a preview of the fiscal year 2022 budget request next week, rather than this week as originally planned.

White House Press Secretary Jen Psaki said the preview is not expected today or this weekend, but "quite soon."

Congressional sources said they expect the FY-22 budgetary toplines, including that of the Defense Department, to be previewed next week. A more detailed budget request is expected later this spring.

The total amount for U.S. defense, which includes DOD and the Energy Department, and other agencies, is expected to be flat when compared to the $740.5 billion requested for FY-21.

For weeks, government officials have anticipated the Pentagon's individual FY-22 topline will be between $704 billion and $708 billion, or a decrease of about 2% when adjusted for inflation.

Many Republicans are calling for a total FY-22 defense increase of 3% to 5% above the rate of inflation, while some liberal Democrats are arguing for a 10% cut.

Meanwhile, congressional sources said they are also preparing to debate the need for the DOD's $69 billion Overseas Contingency Operations account, which could be transferred to the base budget in President Biden's FY-22 proposal.