FY23 Budget

President Biden is not expected to submit his FY23 budget until after his March 1st, state of the Union Address.  By law, Presidents are expected to submit a budget to Congress by the first Monday in February, but there is no penalty for missing the deadline.  In the past, many presidents from both parties have missed the deadline. Waiting to submit the FY23 budget until the FY22 Appropriations Bills are enacted provides the advantage of being able to craft a proposed budget based on the final spending agreement for the prior year. BBB could delay the FY23 budget and if Senate Democrats believe they can strike a deal with Sen. Manchin (D-WV), the President may want to delay the FY23 budget submission until the fate of BBB is clear.