Budget Day: March 4

President Obama's fiscal year 2015 budget will be released on March 4, Office of Management and Budget spokesman Steve Posner said in a statement.

"Now that Congress has finished its work on this year's appropriations, the administration is able to finalize next year's budget," he said. "We are moving to complete the budget as quickly as possible to help Congress return to regular order in the annual budget process."

Typically, the administration issues its budget request in early February.

The Pentagon is also due to release its latest Quadrennial Defense Review report to Congress in conjunction with the budget request.