Budget

Obama's Budget Not Expected to Offer Much to Republicans

Bring on the election-year battles!

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President Barack Obama's 2015 budget won't include policies in his previous budgets that have been favored by Republicans, a White House official said, including a change in the Consumer-price index that would affect Social Security.

Instead, Mr. Obama's budget will present proposals supported by his own Democratic Party, such as tax increases aimed at the high-income earners, setting up an election-year battle over fiscal priorities.

Mr. Obama's budget will include a new proposal the White House has dubbed the Opportunity, Growth, and Security Initiative, which proposes new spending on education, manufacturing and job training programs that would be paid for by closing certain tax loopholes and cutting $28 billion from defense and nondefense spending.