Budget preview slated for Friday

The White House will be releasing toplines for President Biden's discretionary funding request for fiscal year 2022 on Friday, according to the Office of Management and Budget.

A more detailed budget request is expected later this spring.

The total FY-22 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.

Government officials and analysts for weeks 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. However, the topline is subject to change as OMB and DOD have been negotiating for several weeks.

Republicans have been 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.